The stock finally ended at Rs 149, up over 18%. The counter clocked heavy volumes of trades of 494,523 shares on the BSE .
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Updated at 1113 Hrs
Sobha Developers continues to gain from yesterday's rally in realty stocks, inspite of a 52% decline in net profit.
The stock opened at Rs 135. It slipped into the red and touched a low of Rs 118. The stock soon surged to a high of Rs 151, up 28% from the day's low. It is now up 7% at Rs 135. The counter has seen trades of around 130,651 shares on the BSE so far. On the other hand, around 254,370 shares have been traded on the NSE so far.
According to a release issued by the company to the BSE, the net profit has declined 52% to Rs 109.7 crore in FY09 from Rs 228.3 crore in FY08. The net sales has decreased 32% to Rs 967.9 crore in the year ended March 2009 from Rs 1,422.6 crore in the previous fiscal.
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