Shares of Tarc Ltd rose sharply in Friday's trade to scale their all-time high levels even as domestic benchmarks continued to plunge. The stock surged 4.99 per cent to hit a lifetime high of Rs 269.55. It was last seen trading 5.48 per cent up at Rs 268.50. At this price, the scrip has rallied 96.13 per cent on a year-to-date (YTD) basis.
Today's upward move in the share price came after the company reported strong presales of Rs 1,012 crore in the second quarter (Q2 FY2025), registering 900 per cent year-on-year (YoY) growth.
Tarc also stated that it has reported presales of Rs 1,322 crore in the H1 FY25, representing an extraordinary YoY growth of 600 per cent. This significant achievement is a testament to the company's robust performance and strategic positioning in the luxury real estate market, it added.
"With a strong presales performance, successful management of our financial obligations and the launch of new projects, TARC Limited is well-equipped to navigate the evolving market landscape. Our focus remains on delivering high-quality developments that meet the needs of our customers while maximizing value for our stakeholders. We are also focused on expanding our portfolio in high-demand areas of Delhi and Gurugram and are gearing up for exciting new launches going ahead," Tarc further said.
"TARC has been accepted as a strong luxury residential brand. This has been demonstrated by our presales and feedback for our developments: Tripundra, Kailasa, and lshva," said Amar Sarin, MD & CEO of Tarc.
On the stock-specific front, the counter traded higher than the 5-day, 10-, 20-, 30-, 50-, 100-, 150-day and 200-day simple moving averages (SMAs). The scrip's 14-day relative strength index (RSI) came at 70.39. A level below 30 is defined as oversold while a value above 70 is considered overbought.
According to BSE data, the company's stock has a price-to-equity (P/E) ratio of 405.82 against a price-to-book (P/B) value of 5.55. Earnings per share (EPS) stood at 0.63 with a return on equity (RoE) of 1.37.
As of June 2024, promoters held a 64.96 per cent stake in the firm.