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TARC Plunges 4%; BSE REALTY Index Up 0.9%
Tue, 26 Nov 12:17

TARC Plunges 4%; BSE REALTY Index Up 0.9%Image source: CreativaImages/www.istockphoto.com

TARC share price has plunged 4% and is presently trading at Rs 201.5.

Meanwhile, the BSE REALTY index is at 8,096.9 (up 0.9%).

Among the top losers in the BSE REALTY index today are Brigade Enterprises (down 2.8%) and MAHINDRA LIFESPACE (down 1.1%).

OBEROI REALTY (up 2.1%) and Sobha (up 1.6%) are among the top gainers today.

Over the last one year, TARC has moved up from Rs 111.8 to Rs 201.5, registering a gain of Rs 89.7 (up 80.2%).

On the other hand, the BSE REALTY index has moved up from 5,493.3 to 8,096.9, registering a gain of 47.4% during the last 12 months.

The top gainers among the BSE REALTY index stocks during this same period were Sobha (up 91.5%), PRESTIGE ESTATES (up 89.1%) and Brigade Enterprises (up 63.6%).

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

What About the Benchmark Indices?

The BSE Sensex is at 79,981.4 (down 0.2%).

The top losers among the BSE Sensex today are MUNDRA PORT & SEZ (down 2.8%) and Ultratech Cement (down 2.5%). The most traded stocks in the BSE Sensex are Tata Steel and Tata Motors.

In the meantime, NSE Nifty is at 24,187.4 (down 0.1%). Adani Enterprises and MUNDRA PORT & SEZ are among the top losers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 66,023.2 to 79,981.4, registering a gain of 13,958.2 points (up 21.1%).

TARC Financial Update...

TARC net profit fell 6413.2% YoY to Rs -674 million for the quarter ended September 2024, compared to a profit of Rs 11 million a year ago. Net sales declined 85.5% to Rs 43 million during the period as against Rs 297 million in July-September 2023.

For the year ended March 2024, TARC reported 478.2% decrease in net profit to Rs -770 million compared to net profit of Rs 204 million during FY23. Revenue of the company fell 69.8% to Rs 1,114 million during FY24.

The current Price to earnings ratio of TARC, based on rolling 12 month earnings, stands at -32.4.

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