India's Oberoi Realty hits record high after Q4 profit beats view

Oberoi Realty

15/05/2024 06:14

** Shares of real estate firm Oberoi Realty  OEBO.NS  rise
as much as 7.2% to 1,629.05 rupees, hitting a record high
    **Top gainer on Nifty realty index  .NIFTYREAL 
    **OEBO on Tuesday reported a 64.1% jump in Q4 profit to 7.88
billion rupees ($94.4 million), beating LSEG estimate of 4
billion rupees
    ** Co recorded highest ever quarterly and annual profits
driven by robust sales momentum, healthy operational
performance, OEBO said in its press release
    ** More than 2.9 million shares change hands in the most
active trading session since Jan. 24, 2024
    ** Average analyst rating is "Hold"; median PT is 1,323
rupees rupees - LSEG data
    ** Stock has gained 10.3% so far this year vs 24.15% climb
in Nifty realty index <.NIFTYREAL.



($1 = 83.4925 Indian rupees)

 (Reporting by Anisha Ajith in Bengaluru)
 ((anisha.ajith@thomsonreuters.com))