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TARC Plunges 5%; BSE REALTY Index Down 3.2%
Mon, 4 Nov 13:12

TARC Plunges 5%; BSE REALTY Index Down 3.2%Image source: Kameleon007 /www.istockphoto.com

TARC share price has plunged 5% and is presently trading at Rs 229.0.

Meanwhile, the BSE REALTY index is at 7,655.5 (down 3.2%).

Among the top losers in the BSE REALTY index today are Brigade Enterprises (down 6.1%) and PRESTIGE ESTATES (down 4.2%).

Over the last one year, TARC has moved up from Rs 102.1 to Rs 229.0, registering a gain of Rs 126.9 (up 124.2%).

On the other hand, the BSE REALTY index has moved up from 4,776.6 to 7,655.5, registering a gain of 60.3% during the last 12 months.

The top gainers among the BSE REALTY index stocks during this same period were Sobha (up 125.4%), PRESTIGE ESTATES (up 108.4%) and Brigade Enterprises (up 91.5%).

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

What About the Benchmark Indices?

The BSE Sensex is at 78,480.3 (down 1.7%).

The top losers among the BSE Sensex today are Bajaj Finserv (down 3.9%) and MUNDRA PORT & SEZ (down 3.7%). The most traded stocks in the BSE Sensex are ICICI Bank and Tata Steel.

In the meantime, NSE Nifty is at 23,897.6 (down 1.7%). Hero Motocorp and Bajaj Auto are among the top losers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 63,874.9 to 78,480.3, registering a gain of 14,605.4 points (up 22.9%).

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 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 -58.8.


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