Godrej Properties shares rise 2.12 per cent in Friday's trading session

Shares of Godrej Properties Ltd. rose 2.12 per cent to Rs 1125.4 in Friday's trade as of 10:31AM (IST) even as the benchmark Nifty ruled at 17071.1, up 85.5 points.

The scrip had closed at Rs 1102.05 in the previous session. The stock quoted a 52-week low of Rs 1061.65 and a high of Rs 1715.4. The company quoted a market-cap of Rs 31287.09 crore on the BSE.

On BSE, 8,693 shares have changed hands on the counter so far. At its prevailing price, the stock traded at 74.54 times its trailing 12-month EPS of Rs 15.1 per share and 5.36 times its book value. The return on equity (ROE) stood at Rs 4.06.

Key Financials
For the quarter ended 31-Dec-2022, Godrej Properties Ltd. reported consolidated sales of Rs 404.58 crore, up 13.35 per cent from the same quarter a year ago. The company reported 50.81 per cent YoY growth in net profit at Rs 58.74 crore for the latest quarter.

Technical indicators
The relative strength index (RSI) of the stock stood at Friday. The RSI oscillates between zero and 100. Traditionally, it is considered overbought condition when the RSI value is above 70 and oversold when it is below 30.

Analysts say the RSI indicator should not be seen in isolation, as it may not be sufficient to take a trading call, just the way a fundamental analyst cannot give a "buy" or "sell" recommendation using a single valuation ratio.