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IRB Infra Plunges 3%; BSE REALTY Index Down 0.6%
Wed, 11 Sep 14:30

IRB Infra Plunges 3%; BSE REALTY Index Down 0.6%Image source: Ivcandy/www.istockphoto.com

IRB Infra share price has plunged 3% and is presently trading at Rs 60.5.

Meanwhile, the BSE REALTY index is at 8,063.0 (down 0.6%).

Among the top losers in the BSE REALTY index today are Phoenix Mill (down 2.5%) and INDIABULLS REAL EST (down 2.3%).

Sobha (up 1.6%) and OBEROI REALTY (up 0.4%) are among the top gainers today.

Over the last one year, IRB Infra has moved up from Rs 34.2 to Rs 60.5, registering a gain of Rs 26.3 (up 77.0%).

On the other hand, the BSE REALTY index has moved up from 4,774.4 to 8,063.0, registering a gain of 68.9% during the last 12 months.

The top gainers among the BSE REALTY index stocks during this same period were PRESTIGE ESTATES (up 180.6%), Sobha (up 166.3%) and Brigade Enterprises (up 108.3%).

Must See: These Segments are Witnessing Incredible Growth with Modi's Push

What About the Benchmark Indices?

The BSE Sensex is at 81,601.1 (down 0.4%).

The top losers among the BSE Sensex today are Tata Motors (down 5.9%) and M&M (down 1.6%). The most traded stocks in the BSE Sensex are Tata Motors and Tata Steel.

In the meantime, NSE Nifty is at 24,951.1 (down 0.4%). Tata Motors and ONGC are among the top losers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 67,127.1 to 81,601.1, registering a gain of 14,474.0 points (up 21.6%).

IRB Infra Financial Update...

IRB Infra net profit grew 3.3% YoY to Rs 1,934 million for the quarter ended June 2024, compared to a profit of Rs 1,873 million a year ago. Net sales rose 13.4% to Rs 18,529 million during the period as against Rs 16,342 million in April-June 2023.

For the year ended March 2024, IRB Infra reported 15.9% decrease in net profit to Rs 6,058 million compared to net profit of Rs 7,200 million during FY23. Revenue of the company grew 15.7% to Rs 74,090 million during FY24.

The current Price to earnings ratio of IRB Infra, based on rolling 12 month earnings, stands at 39.4.

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