Shares of the realty major surged 26.2% in nine trading sessions from its previous closing low of Rs 1,012.95 on 28 March 2023.

On the BSE, 30,820 shares were traded in the counter so far compared with average daily volumes of 48,189 shares in the past two weeks. The stock hit a high of Rs 1284.85 and a low of Rs 1241.05 so far during the day.

The stock hit a 52-week high of Rs 1,674 on 4 May 2022. The stock hit a 52-week low of Rs 1,005.7 on 29 March 2023.

On 10 April 2023, the real estate developer said that its sales volumes for the quarter grew by 19% QoQ in area terms from 4.42 million square feet (sq. ft) to 5.25 million sq. ft.

Godrej Properties (GPL)'s sales volumes for the full financial year grew by 40% in area terms from 10.84 million sq. ft. to 15.21 million sq. ft.

GPL's cash collections for FY23 grew 41% to Rs 8,991 crore. Q4 FY23 collections stood at Rs 3,822 crore representing QoQ growth of 127% and YoY growth of 52%.

The stock had outperformed the market over the past one month, jumping 13.92% compared with 3.68% rise in the Sensex.

The scrip had also outperformed the market in past one quarter, rising 2.79% as against Sensex's 0.2% rise.

However, the counter had underperformed the market in past one year, sliding 20.23% as against 3.5% jump in Sensex.

On the technical front, the stock's daily RSI (relative strength index) stood at 74.292. The RSI oscillates between zero and 100. Traditionally the RSI is considered overbought when above 70 and oversold when below 30.

In daily chart, the stock is trading above its 50, 100 and 200 days simple moving average (SMA) placed at 1,133.39, 1,195.96 and 1,251.24 respectively. These levels will act as crucial support zones in near term.

Godrej Properties is the real estate arm of the Godrej Group. It is subsidiary of Godrej Industries, which holds 58.48% of the company's equity shares as on 31 December 2022. The company currently operates in various cities and focuses on residential, commercial, and township development.

The realtor's consolidated net profit jumped 51% to Rs 59 crore in Q3 FY23 compared with Rs 39 crore in Q3 FY22. Revenue from operations declined 29.61% to Rs 196.23 crore as against Rs 278.76 crore in Q3 FY22.