Marathon Nextgen Realty surges 17% on share buyback plan
Mumbai: Shares of Marathon Nextgen Realty were up 17% per cent on Tuesday as the company on Friday had announced a board meeting to consider a buyback proposal of equity shares and a new project proposal on March 17.
Marathon's total traded quantity was up to 0.32 Lakh shares compared to the two-week average traded quantity of 4484 shares. The company focuses on the slum rehabilitation and high-end residential segment.
The BSE realty index was up 2% on Tuesday. The stock has been consistently gaining in the last month rising 23% and has outperformed the Sensex by 61% in the last year. It trades at 7 times its FY17 earnings.
The company’s net sales on a year-on-year basis has grown 760% to Rs 53 crore from Rs 6.25 crore. It’s profit after tax fell 8.4% on a quarterly basis to Rs 25 crore.
Marathon's total traded quantity was up to 0.32 Lakh shares compared to the two-week average traded quantity of 4484 shares. The company focuses on the slum rehabilitation and high-end residential segment.
The BSE realty index was up 2% on Tuesday. The stock has been consistently gaining in the last month rising 23% and has outperformed the Sensex by 61% in the last year. It trades at 7 times its FY17 earnings.
The company’s net sales on a year-on-year basis has grown 760% to Rs 53 crore from Rs 6.25 crore. It’s profit after tax fell 8.4% on a quarterly basis to Rs 25 crore.
