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TARC Plunges 4%; BSE REALTY Index Down 0.1%
Tue, 8 Oct 9:29

TARC Plunges 4%; BSE REALTY Index Down 0.1%Image source: Kameleon007 /www.istockphoto.com

TARC share price has plunged 4% and is presently trading at Rs 240.2.

Meanwhile, the BSE REALTY index is at 7,957.6 (down 0.1%).

Among the top losers in the BSE REALTY index today are Sobha (down 2.1%) and Phoenix Mill (down 1.2%).

Brigade Enterprises (up 2.0%) and MAHINDRA LIFESPACE (up 1.0%) are among the top gainers today.

Over the last one year, TARC has moved up from Rs 90.1 to Rs 240.2, registering a gain of Rs 150.1 (up 166.6%).

On the other hand, the BSE REALTY index has moved up from 4,541.1 to 7,957.6, registering a gain of 75.2% during the last 12 months.

The top gainers among the BSE REALTY index stocks during this same period were PRESTIGE ESTATES (up 179.0%), Sobha (up 163.8%) and Brigade Enterprises (up 144.0%).

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

What About the Benchmark Indices?

The BSE Sensex is at 81,166.4 (up 0.1%).

The top gainers among the BSE Sensex today are Hindustan Unilever (up 1.3%) and M&M (up 1.1%). The most traded stocks in the BSE Sensex are Tata Steel and Tata Motors.

In the meantime, NSE Nifty is at 24,810.0 (up 0.1%). M&M and Hindustan Unilever are among the top gainers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 65,226.0 to 81,166.4, registering a gain of 15,940.3 points (up 24.4%).

TARC Financial Update...

TARC net profit fell 531.3% YoY to Rs -307 million for the quarter ended June 2024, compared to a profit of Rs 71 million a year ago. Net sales declined 86.9% to Rs 82 million during the period as against Rs 629 million in April-June 2023.

For the year ended March 2023, TARC reported 108.8% increase in net profit to Rs 204 million compared to net loss of Rs 2,327 million during FY22. Revenue of the company grew 47.1% to Rs 3,687 million during FY23.

The current Price to earnings ratio of TARC, based on rolling 12 month earnings, stands at -61.7.

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