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Sobha Plunges 5%; BSE REALTY Index Down 4.2%
Mon, 5 Aug 9:49

Sobha Plunges 5%; BSE REALTY Index Down 4.2%Image source: asbe/www.istockphoto.com

Sobha share price has plunged 5% and is presently trading at Rs 1,648.3.

Meanwhile, the BSE REALTY index is at 7,756.8 (down 4.2%).

Among the top losers in the BSE REALTY index today are Phoenix Mill (down 8.4%) and Godrej Properties (down 4.9%).

Over the last one year, Sobha has moved up from Rs 588.5 to Rs 1,648.3, registering a gain of Rs 1,059.7 (up 180.1%).

On the other hand, the BSE REALTY index has moved up from 4,455.6 to 7,756.8, registering a gain of 74.1% during the last 12 months.

The top gainers among the BSE REALTY index stocks during this same period were PRESTIGE ESTATES (up 182.6%), Sobha (up 180.1%) and Brigade Enterprises (up 96.4%).

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

What About the Benchmark Indices?

The BSE Sensex is at 79,456.2 (down 1.9%).

The top losers among the BSE Sensex today are Tata Motors (down 4.2%) and JSW Steel (down 3.5%). The most traded stocks in the BSE Sensex are Tata Steel and Tata Motors.

In the meantime, NSE Nifty is at 24,271.4 (down 1.8%). Tata Motors and Hindalco are among the top losers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 66,459.3 to 79,456.2, registering a gain of 12,996.8 points (up 19.6%).

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 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 358.9.

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