The Bengaluru-based real estate developer has projects in major Indian cities including Bengaluru, Mumbai, Pune, Goa, Hyderabad, Chennai, Coimbatore and Kochi.
Puravankara shares have been market outperformers delivering a whopping 367% returns in the last 12 months which is an outperformance not just over its sectoral index but also the broader Nifty. While the Nifty Realty index has yielded 114% returns over a 1-year period, the 50-stock Nifty has given 25% returns in the same period.
The counter is currently trading above its 50-day and 200-day simple moving averages (SMAs) and the day’s momentum indicators RSI and MFI as suggested by Trendlyne show it in a medium range of 61.8 and 64.9, respectively.
Despite a strong rally, the Puravankara stock has exhibited stability with 1-year beta hovering below 1. A stock with beta less than 1 is considered to be less volatile.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
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