Oberoi Realty surges 15% in three days after a strong Q2 result

The stock moved higher by 9% to Rs 431 on Wednesday, extending its 6% gain in past two days on the BSE.

Shares of Oberoi Realty have moved higher by 9% to Rs 431 per share on Wednesday, extending its  6% gain in past two days on the BSE, after the company reported a more-than-double consolidated net profit at Rs 2.14 billion in September quarter, on strong revenue growth. The real estate company had reported a profit of Rs 1.04 billion during the same quarter last fiscal.

The company recorded a consolidated revenue of Rs 6.20 billion for Q2FY19, up 101% against Rs 3.08 billion for Q2FY18.

The market analysts expect the liquidity stress in the NBFC sector is likely