Share price of Godrej Properties rises as Nifty weakens

Shares of Godrej Properties Ltd. gained 0.75 per cent to Rs 1318.4 in Friday's trade as of 01:27PM (IST). The stock hit a high price of Rs 1325.0 and low of Rs 1286.55 during the session.

The return on equity (ROE) for the stock stood at 6.16 per cent. Traded volume on the counter stood at 01:27PM shares and turnover at Rs 3.04 crore around that time. The stock of Godrej Properties Ltd. quoted a 52-week high price of Rs 1530.75 and 52-week low prices of Rs 1005.7, respectively.

The stock's Beta value, which measures its volatility in relation to the broader market, stood at 1.27.

Promotor/FII Holding
Promoters held 58.42 per cent stake in the company as of 31-Mar-2023, while FIIs held 27.09 per cent and domestic institutional investors had 2.72 per cent.

Key Financials
The company reported consolidated sales of Rs 1838.82 crore for the quarter ended 31-Mar-2023, up 354.5 per cent from previous quarter's Rs 404.58 crore and up 20.77 per cent from the year-ago quarter's Rs 1522.57 crore. Net profit after tax for the latest quarter stood at Rs 412.14 crore, up 58.23 per cent from the same quarter a year ago.

Technicals
The MACD signalled a bearish bias on the counter. The MACD is known for signalling trend reversals in traded securities or indices.
It is the difference between the 26-day and 12-day exponential moving averages. A nine-day exponential moving average, called the signal line, is plotted on topof the MACD to reflect "buy" or "sell" opportunities. When the MACD crosses below the signal line, it gives a bearish signal, indicating that the price of the security may see a downward movement and vice versa.