India's Oberoi Realty climbs on Q2 profit jump

Oberoi Realty

21/10/2024 08:27

** Shares of Oberoi Realty  OEBO.NS  rise 3.1% to 1,991
rupees; on track for best one-day pct gain since late May, if
trend holds 
    ** The real-estate developer's Q2 consol net profit grew 29%
y/y, rev from ops jumped 8.5%, boosted by strong demand for
premium projects 
    ** Stock top gainer on the Nifty realty index  .NIFTYREAL ,
which is down 0.14% 
    ** OEBO and peer Prestige Estates  PREG.NS  (up ~1%) are
only two stocks logging gains in the 10 member NIFTYREAL 
    ** Analysts' avg rating on OEBO is "hold", median PT is
1,812.5 rupees 
    ** Stock up ~38% YTD vs ~34% gains in NIFTYREAL 

 (Reporting by Manvi Pant in Bengaluru)
 ((Manvi.Pant@thomsonreuters.com; +918447554364;))