Godrej Properties shares drop 0.12% as Sensex rises

Shares of Godrej Properties Ltd. traded 0.12 per cent lower in Wednesday's session at 12:52PM (IST). The stock opened at Rs 1325.15 and has touched an intraday high and low of Rs 1336.6 and Rs 1313.7, respectively, during the session so far.

The stock quoted a 52-week high of Rs 1530.75 and a 52-week low of 1005.7. About 4,369 shares changed hands on the counter so far.

Benchmark Nifty50 was up 20.4 points at 18286.35, while the BSE Sensex traded 86.2 points higher at 61847.53 at the time of writing of this report.

In the Nifty pack, 25 stocks traded the day in the green, while 25 were in the red.


Key Financials
For the quarter ended 31-Mar-2023, the company reported consolidated sales of Rs 1838.82 crore, up 354.5 per cent from the previous quarter's Rs 404.58 crore and up 20.77 per cent from the year-ago quarter. The company reported net profit of Rs 412.14 crore for the latest quarter.

Promoter Holdings
Promoters held 58.48 per cent stake in the company as of 31-Mar-2023, while FIIs held 27.09 per cent and MFs 2.72 per cent.

Technicals
On the technical charts, the 200-Day Moving Average (DMA) of the stock stood at Rs 1255.57 on May 10, while the 50-DMA was at Rs 1180.73. If a stock trades above 50-DMA and 200-DMA, it usually means the immediate trend is upward. On the other hand, if the stock trades well below 50-DMA and 200-DMA both, it is considered as bearish trend and if trades between these averages, then it suggests the stock can go either way.