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© Reuters.
Shares of Status Estates Tasks reached a brand new peak on the Nationwide Inventory Trade (NSE) on Tuesday, pushing the Nifty Realty Index to an unprecedented stage. The surge was fueled by a sturdy buying and selling quantity and a complete traded worth of INR 520.11 crore.
The corporate’s stellar efficiency is linked to record-breaking gross sales in H1 FY24 and Q2 FY24. The inventory place is presently overbought, with the Cash Move Index (MFI) standing at 87.6 and the Relative Power Index (RSI) nearing 70.
Additional contributing to Status’s success, the corporate launched 5 tasks masking a complete of 13.10 million sq. ft in Bengaluru and Hyderabad. Furthermore, it reported the sale of three,659 models in Q2 FY24. These components have led to Status’s spectacular 65% return over the previous yr, considerably outpacing each the Nifty50 and the sector.
Different firms within the realty sector that demonstrated robust efficiency embody Sobha, Godrej Properties, DLF Brigade Enterprises, The Phoenix Mills, Mahindra Lifespace, and Swan Power.
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