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Nesco Gains 6%; BSE REALTY Index Up 0.2%
Wed, 12 Jun 10:22

Nesco share price has zoomed 6% and is presently trading at Rs 945.2.

Meanwhile, the BSE REALTY index is at 8,584.6 (up 0.2%).

Among the top gainers in the BSE REALTY index today are SUNTECK REALTY (up 4.4%) and INDIABULLS REAL EST (up 1.4%).

PRESTIGE ESTATES (down 1.7%) and OBEROI REALTY (down 0.7%) are among the top losers today.

Over the last one year, Nesco has moved up from Rs 645.3 to Rs 945.2, registering a gain of Rs 299.9 (up 46.5%).

On the other hand, the BSE REALTY index has moved up from 4,047.8 to 8,584.6, registering a gain of 112.1% during the last 12 months.

The top gainers among the BSE REALTY index stocks during this same period were Sobha (up 283.5%), PRESTIGE ESTATES (up 227.3%) and Brigade Enterprises (up 147.7%).

Dear Reader: If You Invest in Midcap Stocks, this is for You

What About the Benchmark Indices?

The BSE Sensex is at 76,935.2 (up 0.6%).

The top gainers among the BSE Sensex today are Power Grid Corp. (up 1.4%) and Tata Motors (up 1.4%). The most traded stocks in the BSE Sensex are Tata Steel and Tata Motors.

In the meantime, NSE Nifty is at 23,388.5 (up 0.5%). Coal India and BPCL are among the top gainers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 62,724.7 to 76,935.2, registering a gain of 14,210.5 points (up 22.7%).

Nesco Financial Update...

Nesco net profit grew 23.7% YoY to Rs 1,051 million for the quarter ended March 2024, compared to a profit of Rs 850 million a year ago. Net sales rose 20.2% to Rs 1,890 million during the period as against Rs 1,572 million in January-March 2023.

For the year ended March 2023, Nesco reported 53.6% increase in net profit to Rs 2,906 million compared to net profit of Rs 1,892 million during FY22. Revenue of the company grew 61.8% to Rs 5,460 million during FY23.

The current Price to earnings ratio of Nesco, based on rolling 12 month earnings, stands at 18.4.

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