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Sobha Plunges 6%; BSE REALTY Index Down 3.0%
Wed, 19 Jun 13:23

Sobha share price has plunged 6% and is presently trading at Rs 2,025.0.

Meanwhile, the BSE REALTY index is at 8,736.1 (down 3.0%).

Among the top losers in the BSE REALTY index today are Phoenix Mill (down 4.0%) and PRESTIGE ESTATES (down 3.3%).

SUNTECK REALTY (up 6.8%) and MAHINDRA LIFESPACE (up 0.3%) are among the top gainers today.

Over the last one year, Sobha has moved up from Rs 565.8 to Rs 2,025.0, registering a gain of Rs 1,459.3 (up 257.9%).

On the other hand, the BSE REALTY index has moved up from 4,179.7 to 8,736.1, registering a gain of 109.0% during the last 12 months.

The top gainers among the BSE REALTY index stocks during this same period were Sobha (up 257.9%), PRESTIGE ESTATES (up 213.2%) and Phoenix Mill (up 135.3%).

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

What About the Benchmark Indices?

The BSE Sensex is at 77,408.9 (up 0.1%).

The top gainers among the BSE Sensex today are Axis Bank (up 2.0%) and HDFC Bank (up 1.8%). The most traded stocks in the BSE Sensex are Tata Steel and HDFC Bank.

In the meantime, NSE Nifty is at 23,534.4 (down 0.1%). Titan and L&T are among the top losers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 63,228.5 to 77,408.9, registering a gain of 14,180.4 points (up 22.4%).

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 441.0.

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