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Patel Engineering Plunges 8%; BSE REALTY Index Down 0.3%
Mon, 8 Jul 10:0

Patel Engineering Plunges 8%; BSE REALTY Index Down 0.3%Image source: DNY59/www.istockphoto.com

Patel Engineering share price has plunged 8% and is presently trading at Rs 63.2.

Meanwhile, the BSE REALTY index is at 8,712.8 (down 0.3%).

Among the top losers in the BSE REALTY index today are OBEROI REALTY (down 1.6%) and Brigade Enterprises (down 1.5%).

Sobha (up 1.3%) and DLF (up 0.1%) are among the top gainers today.

Over the last one year, Patel Engineering has moved up from Rs 36.9 to Rs 63.2, registering a gain of Rs 26.3 (up 71.5%).

On the other hand, the BSE REALTY index has moved up from 4,187.4 to 8,712.8, registering a gain of 108.1% during the last 12 months.

The top gainers among the BSE REALTY index stocks during this same period were Sobha (up 285.9%), PRESTIGE ESTATES (up 212.5%) and INDIABULLS REAL EST (up 150.2%).

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

What About the Benchmark Indices?

The BSE Sensex is at 79,835.8 (down 0.2%).

The top losers among the BSE Sensex today are Titan (down 4.1%) and Asian Paints (down 1.3%). The most traded stocks in the BSE Sensex are Tata Steel and Tata Motors.

In the meantime, NSE Nifty is at 24,276.6 (down 0.2%). Titan and Divis Laboratories are among the top losers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 65,479.1 to 79,835.8, registering a gain of 14,356.8 points (up 21.9%).

Patel Engineering Financial Update...

Patel Engineering net profit grew 83.1% YoY to Rs 1,409 million for the quarter ended March 2024, compared to a profit of Rs 770 million a year ago. Net sales rose 11.5% to Rs 13,432 million during the period as against Rs 12,051 million in January-March 2023.

For the year ended March 2023, Patel Engineering reported 159.6% increase in net profit to Rs 1,788 million compared to net profit of Rs 689 million during FY22. Revenue of the company grew 18.5% to Rs 40,276 million during FY23.

The current Price to earnings ratio of Patel Engineering, based on rolling 12 month earnings, stands at 17.7.

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