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Omaxe share price hits fresh 52-week low after firm defers Q4 earnings

Omaxe share price was trading at Rs 141.20, after opening with a gap down chart pattern, down 19.98% against the earlier close of Rs 176.45 on BSE

Omaxe share price hits fresh 52-week low after firm defers Q4 earnings

Share price of Omaxe hit a new 52-week low, after locking at 20% lower circuit for the second consecutive session on BSE after the company delayed its January-March quarter (Q4FY20) earnings by one month. The stock has erased over 36% value in the last two trading sessions.

Omaxe share price was trading at Rs 141.20, after opening with a gap down chart pattern, down 19.98% against the earlier close of Rs 176.45 on BSE.

The stock opened at 141.2 and has since traded at this price. Market capitalisation of the firm stood at Rs 2,582.56 crore. Shares of the realty firm have declined 34% in one week, 20% in one-month and 9.14% year-to-date.

The real estate developer which was to announce its January-March quarter (Q4FY20) earnings on June 29 postponed them by one month.

The company informed the stock exchange in a regulatory filing about the postponement and said its board of directors is now scheduled to meet on July 29, 2020, to approve the Q4 earnings.

Stock price of Omaxe closed 19.98% lower at Rs 141.20 on BSE today.

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