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Expect strong profit growth trend to continue with a surge of 65% YoY and 6.4% QoQ to Rs 15114 crore.

The stock started its upward journey after making a 52-week low of Rs 81 on 20th June 2022. It started making higher highs and higher lows, but the momentum fizzled out in August 2022.

The quarter and the financial year also marked the company’s highest-ever project deliveries. The developer delivered projects aggregating over 10 million sq ft across 5 cities in 2022-23 including 7.6 million sq ft in the fourth quarter.

The Nifty Realty index was trading 2.75 per cent up at 415.1.

“Earnings takes care of many of these things for companies which anyway converted a lot of their earnings to cash with or without anybody analysing it. The thumb rules work in most of these long held or long valued companies which have been around for so long that the valuations are out of line. But we are not playing the reverse trade yet.”

The brokerage remains positive on Nestle as it consistently delivered resilient performance.

There were gains of 10, 5, and 15 points in five sessions. We are looking at a 5-day pattern, so we divide it by 5. Hence, the average gains are 6 points. Losses add up to 10-points, 5 points in two sessions. When divided by five, the average loss is 2 points.

Yes, I think the demand for us is coming from all quarters. We are trying to improve the level of our secured book and in the fourth quarter we have seen good demand from housing.

A total of 1,648 shares changed hands on the counter till 11:37AM (IST)

Phoenix Mills, incorporated in the year 1905, is a Mid Cap company (having a market cap of Rs 22609.65 Crore) operating in Real Estate sector.