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A total of 57.2 lakh shares, or 4.1% of the realty firm’s equity, changed hands. The shares, valued at about ₹828.2 crore, were traded at a price of ₹1,449 apiece.
The identity of the buyer and seller involved in this deal has yet to be discovered immediately, leaving market participants speculating about the potential reasons behind this high-value transaction.
Following the large trade, shares of the company dropped 6.54% to an intra-day low of ₹1,399.6 on the BSE.
The sudden movement in the stock price indicates a possible shift in investor sentiment or significant profit booking after the trade.
Signature Global is a leading real estate developer known for its affordable housing projects.
In August, Signature Global India announced it is on course to meet its sales target of ₹10,000 crore for this financial year.
Rajat Kathuria, CEO of Signature Global, mentioned that the company’s sales are evenly divided between the premium and mid-income segments.
“I expect the sales to be equally split between products selling at about ₹11,500 to ₹12,000 per square foot, going up to about ₹15,000 to ₹16,000. The average realisation should be somewhere between ₹13,000-13,500 per square foot,” he stated.
Signature Global reported pre-sales of ₹3,120 crore and collections of ₹1,210 crore in the first quarter of FY25.
The company sold 968 units, spanning a total area of 2.03 million square feet.
The company, with a market capitalisation of ₹20,288.34 crore, has experienced a 215% increase in its share price over the past year. On a year-to-date basis, the stock has risen over 55% in 2024 so far.
Shares of Signature Global were trading 4.3% lower at ₹1,433.10 on the BSE around 10 am.
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