Indian property markets tank
The day a real estate moghul made it to the most powerful post in the world, realty markets tanked in India largely in line with the collapse of stockmarkets and currencies worldwide. Indian equity markets were roiled by the twin news of the possibility of a Trump Presidency and the Indian demonetization. The rout was led by construction and real estate company stocks like DLF, Unitech, JP Associates, India Cements, GMR and GVK Power and Infra. The possibility of the real estate mogul Trump within sniffing distance of the most powerful position in the world will roil equity, bond and currency markets worldwide. In India, Donald Trump is connected with 2 projects. The Trump Organization has tied up with the Lodhas and the Panchshil Group for super luxury real estate projects in Mumbai and Pune, which will be marketed as ‘Trump Towers’.
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