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Sobha Gains 3%; BSE REALTY Index Down 2.6%
Tue, 25 Jun 14:32

Sobha Gains 3%; BSE REALTY Index Down 2.6%Image source: hudiemm/www.istockphoto.com

Sobha share price has zoomed 3% and is presently trading at Rs 2,051.6.

Meanwhile, the BSE REALTY index is at 8,642.5 (down 2.6%).

Among the top gainers in the BSE REALTY index today are Phoenix Mill (up 0.1%) and MAHINDRA LIFESPACE .

OBEROI REALTY (down 4.3%) and PRESTIGE ESTATES (down 4.1%) are among the top losers today.

Over the last one year, Sobha has moved up from Rs 527.5 to Rs 2,051.6, registering a gain of Rs 1,524.1 (up 288.9%).

On the other hand, the BSE REALTY index has moved up from 4,117.2 to 8,642.5, registering a gain of 109.9% during the last 12 months.

The top gainers among the BSE REALTY index stocks during this same period were Sobha (up 288.9%), PRESTIGE ESTATES (up 242.0%) and INDIABULLS REAL EST (up 155.1%).

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

What About the Benchmark Indices?

The BSE Sensex is at 77,906.5 (up 0.7%).

The top gainers among the BSE Sensex today are Axis Bank (up 2.7%) and HDFC Bank (up 2.2%). The most traded stocks in the BSE Sensex are HDFC Bank and Power Grid Corp..

In the meantime, NSE Nifty is at 23,692.8 (up 0.7%). Shriram Transport and Axis Bank are among the top gainers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 63,523.2 to 77,906.5, registering a gain of 14,383.4 points (up 22.6%).

Sobha Financial Update...

Sobha net profit fell 85.5% YoY to Rs 70 million for the quarter ended March 2024, compared to a profit of Rs 486 million a year ago. Net sales declined 36.9% to Rs 7,629 million during the period as against Rs 12,099 million in January-March 2023.

For the year ended March 2023, Sobha reported 39.8% decrease in net profit to Rs 1,042 million compared to net profit of Rs 1,732 million during FY22. Revenue of the company grew 29.2% to Rs 33,101 million during FY23.

The current Price to earnings ratio of Sobha, based on rolling 12 month earnings, stands at 446.8.

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