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Sobha Gains 6%; BSE REALTY Index Up 2.4%
Wed, 6 Nov 11:42

Sobha Gains 6%; BSE REALTY Index Up 2.4%Image source: asbe/www.istockphoto.com

Sobha share price has zoomed 6% and is presently trading at Rs 1,686.0.

Meanwhile, the BSE REALTY index is at 7,879.4 (up 2.4%).

Among the top gainers in the BSE REALTY index today are PRESTIGE ESTATES (up 4.2%) and Brigade Enterprises (up 2.7%).

Over the last one year, Sobha has moved up from Rs 766.2 to Rs 1,686.0, registering a gain of Rs 919.8 (up 120.1%).

On the other hand, the BSE REALTY index has moved up from 5,165.4 to 7,879.4, registering a gain of 52.5% during the last 12 months.

The top gainers among the BSE REALTY index stocks during this same period were Sobha (up 120.1%), PRESTIGE ESTATES (up 108.2%) and Brigade Enterprises (up 83.9%).

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

What About the Benchmark Indices?

The BSE Sensex is at 80,044.2 (up 0.7%).

The top gainers among the BSE Sensex today are HCl Tech. (up 3.6%) and TCS (up 3.6%). The most traded stocks in the BSE Sensex are ITC and Infosys.

In the meantime, NSE Nifty is at 24,381.8 (up 0.7%). TCS and HCl Tech. are among the top gainers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 64,958.7 to 80,044.2, registering a gain of 15,085.5 points (up 23.2%).

Sobha Financial Update...

Sobha net profit fell 49.8% YoY to Rs 61 million for the quarter ended June 2024, compared to a profit of Rs 121 million a year ago. Net sales declined 29.5% to Rs 6,404 million during the period as against Rs 9,079 million in April-June 2023.

For the year ended March 2024, Sobha reported 52.9% decrease in net profit to Rs 491 million compared to net profit of Rs 1,042 million during FY23. Revenue of the company fell 6.4% to Rs 30,969 million during FY24.

The current Price to earnings ratio of Sobha, based on rolling 12 month earnings, stands at 418.2.

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