Sobha Shares Hit Record: Nifty Realty Index Hits Record High, Led by Strong Performance of Real Estate Stocks

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Sobha shares hit 52-week high: The Nifty Realty index experienced a substantial surge, reaching an almost 6% increase, culminating in a fresh 52-week high at 832.70. This surge was marked by notable jumps of 7-19% in the stocks of Sobha, Brigade, and Lodha. Additionally, DLF, Godrej Properties, and Oberoi Realty registered gains exceeding 5%.

The entire Nifty Realty index, consisting of 10 components, recorded an overall increase of 5.55%. Impressively, over the past year, the Nifty Realty index has demonstrated a remarkable surge of 94%. Noteworthy individual gains were observed in Prestige Estates Projects and Sobha, with gains of almost 180% and 120%, respectively.

Sobha Shares Hit Record: Nifty Realty Index Hits Record High, Led by Strong Performance of Real Estate Stocks

Top Gainers and Losers in the Nifty Realty Index

Company Percentage Change
Sobha +19%
Brigade Enterprises +14%
Macrotech Developers (Lodha) +7%
DLF +5%
Godrej Properties +5%
Oberoi Realty +5%
Macrotech Developers -1.03%
Brigade Enterprises -0.92%
Swan Energy -0.52%
Mahindra Lifespace Developers -0.1%

Positive Outlook for Sobha Ltd. Boosts Share Prices

  1. Motilal Oswal raises Sobha Ltd.’s target price from Rs 960 to Rs 1,400.
  2. Sobha Ltd. shares reach an all-time high following the target price revision.
  3. Motilal Oswal cites a sustainable growth outlook, healthy cash flows, and profitability as reasons for the optimistic target price.
  4. The brokerage predicts Sobha’s outperformance in growth due to the focus on unlocking vast land reserves and exploring external growth opportunities.
  5. Revised presales estimates for FY24 and FY25 indicate higher launches over FY24–26, contributing to further growth visibility.
  6. Potential risks include a slowdown in residential absorption, delays in land parcel monetization, and challenges in signing business development deals.

Nifty Realty Index Ends Positively, Top Gainers and Losers

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Nifty Realty Index Performance

Company Percentage Change
Sobha Ltd. +10.78%
Prestige Estates Projects Ltd. +4.71%
Phoenix Mills Ltd. +2.46%
Godrej Properties Ltd. +1.8%
Oberoi Realty Ltd. +1.34%
Macrotech Developers Ltd. -1.03%
Brigade Enterprises Ltd. -0.92%
Swan Energy Ltd. -0.52%
Mahindra Lifespace Developers Ltd. -0.1%

 Market Overview and Closing Statistics

  • Nifty Realty index concludes with a 0.73% increase at 783.05.
  • Benchmark NSE Nifty50 index is down 47.3 points at 21731.4; BSE Sensex is down 170.12 points at 72240.26.
  • None of the 50 stocks in the Nifty index closed in the red.
  • Most traded shares include Vodafone Idea, Reliance Power, YES Bank, Alok Industries, and JP Power.

 52-Week Highs and Lows

52-Week Highs 52-Week Lows
Allcargo Terminals Raj Rayon
BAG Films IKIO Lighting
Bharat Road Net Azad Engineering
S Chand & Co GIR Natureview
Mahamaya Steel BDR Buildcon

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