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Sobha Plunges 3%; BSE REALTY Index Up 0.7%
Fri, 28 Jun 13:47

Sobha Plunges 3%; BSE REALTY Index Up 0.7%Image source: KanawatTH/www.istockphoto.com

Sobha share price has plunged 3% and is presently trading at Rs 1,941.2.

Meanwhile, the BSE REALTY index is at 8,639.0 (up 0.7%).

Among the top losers in the BSE REALTY index today is MAHINDRA LIFESPACE (down 1.1%).

PRESTIGE ESTATES (up 2.8%) and Godrej Properties (up 2.2%) are among the top gainers today.

Over the last one year, Sobha has moved up from Rs 509.9 to Rs 1,941.2, registering a gain of Rs 1,431.3 (up 280.7%).

On the other hand, the BSE REALTY index has moved up from 4,070.4 to 8,639.0, registering a gain of 112.2% during the last 12 months.

The top gainers among the BSE REALTY index stocks during this same period were Sobha (up 280.7%), PRESTIGE ESTATES (up 229.2%) and INDIABULLS REAL EST (up 147.8%).

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

What About the Benchmark Indices?

The BSE Sensex is at 79,246.5 .

The top gainers among the BSE Sensex today are Tata Motors (up 2.4%) and Reliance Ind. (up 2.3%). The most traded stocks in the BSE Sensex are SBI and Tata Steel.

In the meantime, NSE Nifty is at 24,080.1 (up 0.2%). Dr. Reddys and ONGC are among the top gainers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 62,970.0 to 79,246.5, registering a gain of 16,276.5 points (up 25.8%).

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 422.7.

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