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Sobha Plunges 5%; BSE REALTY Index Down 4.3%
Thu, 3 Oct 13:57

Sobha Plunges 5%; BSE REALTY Index Down 4.3%Image source: StarLineArts/www.istockphoto.com

Sobha share price has plunged 5% and is presently trading at Rs 1,768.6.

Meanwhile, the BSE REALTY index is at 8,208.0 (down 4.3%).

Among the top losers in the BSE REALTY index today are Godrej Properties (down 5.5%) and DLF (down 5.3%).

Over the last one year, Sobha has moved up from Rs 678.6 to Rs 1,768.6, registering a gain of Rs 1,090.0 (up 160.6%).

On the other hand, the BSE REALTY index has moved up from 4,625.6 to 8,208.0, registering a gain of 77.4% during the last 12 months.

The top gainers among the BSE REALTY index stocks during this same period were PRESTIGE ESTATES (up 187.1%), Sobha (up 160.6%) and Brigade Enterprises (up 135.6%).

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

What About the Benchmark Indices?

The BSE Sensex is at 82,557.8 (down 2.0%).

The top losers among the BSE Sensex today are Asian Paints (down 4.4%) and L&T (down 4.0%). The most traded stocks in the BSE Sensex are HDFC Bank and Reliance Ind..

In the meantime, NSE Nifty is at 25,255.2 (down 2.1%). BPCL and IOC are among the top losers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 65,512.1 to 82,557.8, registering a gain of 17,045.7 points (up 26.0%).

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 438.7.

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