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Sobha Gains 8%; BSE REALTY Index Up 3.9%
Fri, 20 Sep 16:37

Sobha Gains 8%; BSE REALTY Index Up 3.9%Image source: hudiemm/www.istockphoto.com

Sobha share price has zoomed 8% and is presently trading at Rs 1,997.7.

Meanwhile, the BSE REALTY index is at 8,670.5 (up 3.9%).

Among the top gainers in the BSE REALTY index today are INDIABULLS REAL EST (up 3.9%) and DLF (up 3.5%).

Phoenix Mill (down 44.8%) and PRESTIGE ESTATES (down 1.1%) are among the top losers today.

Over the last one year, Sobha has moved up from Rs 653.3 to Rs 1,997.7, registering a gain of Rs 1,344.4 (up 205.8%).

On the other hand, the BSE REALTY index has moved up from 4,633.6 to 8,670.5, registering a gain of 87.1% during the last 12 months.

The top gainers among the BSE REALTY index stocks during this same period were PRESTIGE ESTATES (up 206.1%), Sobha (up 205.8%) and Brigade Enterprises (up 118.3%).

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

What About the Benchmark Indices?

The BSE Sensex is at 84,643.4 (up 1.8%).

The top gainers among the BSE Sensex today are M&M (up 5.4%) and ICICI Bank (up 5.2%). The most traded stocks in the BSE Sensex are Tata Steel and ICICI Bank.

In the meantime, NSE Nifty is at 25,822.6 (up 1.6%). M&M and ICICI Bank are among the top gainers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 67,596.8 to 84,643.4, registering a gain of 17,046.6 points (up 25.2%).

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 495.5.

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