Market Update

Defying the broader market weakness, shares of real estate developer TARC jumped 12.3% to an intraday high of ₹142.40 on Monday after the company reported a strong operational performance for the June quarter. In a regulatory filing during market hours, the company reported robust sales momentum and higher collections across its luxury residential portfolio. TARC said its quarterly pre-sales surged to ₹602 crore, marking a three-fold increase year-on-year, while collections rose 80% YoY to ₹305 crore, supported by strong customer conversions and improved collection efficiency, resulting in healthy cash flow visibility.