Godrej Properties extends recent rally to scale record high

Godrej Properties surged 7.15% to Rs 788 at 15:05 IST on BSE, with the stock extending prior six-day gains on follow-up buying.

Meanwhile, the S&P BSE Sensex was up 123.91 points, or 0.36% to 34,476.70.

On the BSE, 1.14 lakh shares were traded in the counter so far, compared with average daily volumes of 13,000 shares in the past two weeks. The stock had hit a high of Rs 796.60 in intraday trade today, 9 January 2018, a record high for the stock. The stock had hit a low of Rs 740 so far during the day.

The large-cap company has equity capital of Rs 108.24 crore. Face value per share is Rs 5.

Shares of Godrej Properties have gained 13.44% in seven trading sessions from its close of Rs 694.60 on 29 December 2017.

On a consolidated basis, net profit of Godrej Properties rose 88.1% to Rs 44.16 crore on 45.7% rise in total income to Rs 536.08 crore in Q2 September 2017 over Q2 September 2016.

Godrej Properties is a real estate developer. It is currently developing residential, commercial and township projects spread across approximately 14 million square meters (147 million square feet) in 12 cities.

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