Oberoi Realty lost 2.82% to Rs 465.05 at 11:17 IST on BSE on profit booking after seeing sharp pre-result rally in anticipation of strong Q2 result.
Meanwhile, the S&P BSE Sensex was up 35.73 points or 0.11% at 32,669.37On BSE, so far 25,000 shares were traded in the counter as against average daily volume of 69,733 shares in the past one quarter. The stock hit a high of Rs 479.50 and a low of Rs 462.05 so far during the day. The stock had hit a record high of Rs 485 yesterday, 16 October 2017. The stock had hit a 52-week low of Rs 255.60 on 22 November 2016.
The stock had underperformed the market over the past one month till 16 October 2017, gaining 20.86% compared with the Sensex's 1.12% gains. The stock had also outperformed the market over the past one quarter, surging 27.58% as against the Sensex's 1.91% rise. The scrip had also outperformed the market over the past one year, advancing 41.56% as against the Sensex's 17.92% rise.
The large-cap company has equity capital of Rs 339.60 crore. Face value per share is Rs 10.
Shares of Oberoi Realty had gained 18.64% in three trading days to settle at Rs 478.55 yesterday, 16 October 2017 from its close of Rs 403.35 on 11 October 2017 in anticipation of strong Q2 result.
Oberoi Realty's net profit jumped 121.79% to Rs 155.96 crore on 52.82% growth in total income to Rs 323.22 crore in Q2 September 2017 over Q2 September 2016. The aggregate area booked for Q2 September 2017 was 1.73 lakh sq. ft. as against 1.77 lakh sq. ft. booked in Q2 September 2016. The result was announced after market hours yesterday, 16 October 2017.
Commenting on the results, Vikas Oberoi, Chairman & Managing Director, Oberoi Realty said that with the onset of RERA and GST, the company is already witnessing an increase in customer confidence and an improved market sentiment. The company believes that credible players are likely to gain ground and unorganised players will be pushed out and the sector will witness consolidation.
Oberoi Realty is India's leading real estate development company, headquartered in Mumbai, focused on premium developments in the residential, office space, retail, hospitality and social infrastructure verticals.
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