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Sobha Gains 6%; BSE REALTY Index Down 0.4%
Wed, 24 Jul 9:49

Sobha Gains 6%; BSE REALTY Index Down 0.4%Image source: ipopba/www.istockphoto.com

Sobha share price has zoomed 6% and is presently trading at Rs 1,876.0.

Meanwhile, the BSE REALTY index is at 8,298.6 (down 0.4%).

Among the top gainers in the BSE REALTY index today are INDIABULLS REAL EST (up 4.8%) and PRESTIGE ESTATES (up 3.8%).

Phoenix Mill (down 4.2%) and Godrej Properties (down 2.0%) are among the top losers today.

Over the last one year, Sobha has moved up from Rs 540.8 to Rs 1,876.0, registering a gain of Rs 1,335.2 (up 246.9%).

On the other hand, the BSE REALTY index has moved up from 4,299.6 to 8,298.6, registering a gain of 93.0% during the last 12 months.

The top gainers among the BSE REALTY index stocks during this same period were Sobha (up 246.9%), PRESTIGE ESTATES (up 233.8%) and Phoenix Mill (up 122.5%).

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

What About the Benchmark Indices?

The BSE Sensex is at 80,217.5 (down 0.3%).

The top losers among the BSE Sensex today are Hindustan Unilever (down 3.0%) and Bajaj Finance (down 2.3%). The most traded stocks in the BSE Sensex are ITC and Tata Steel.

In the meantime, NSE Nifty is at 24,409.1 (down 0.3%). Hindustan Unilever and Tata Consumer Products are among the top losers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 66,384.8 to 80,217.5, registering a gain of 13,832.7 points (up 20.8%).

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 408.5.

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