Sobha Developers tumbles on profit booking

Sobha Developers fell 5.04% to Rs 320 at 14:32 IST on BSE on profit booking after the stock jumped 8.69% in the preceding three trading sessions to Rs 337 on 26 November 2013, from a recent low of Rs 310.05 on 21 November 2013.

Meanwhile, the BSE Sensex was down 23.78 points, or 0.12%, to 20,401.24.

On BSE, 9,781 shares were traded in the counter compared with average volume of 34,143 shares in the past one quarter.

The stock hit a high of Rs 336 and a low of Rs 319 so far during the day. The stock hit a 52-week high of Rs 472.40 on 13 February 2013. The stock hit a 52-week low of Rs 214.10 on 4 September 2013.

The stock had outperformed the market over the past one month till 26 November 2013, rising 6.29% compared with the Sensex's 1.25% fall. The scrip had also outperformed the market in past one quarter, rising 37.97% as against Sensex's 10.06% rise.

The mid-cap company has an equity capital of Rs 98.06 crore. Face value per share is Rs 10.

Sobha Developers' consolidated net profit rose 13% to Rs 56.60 crore on 31% growth in revenue to Rs 545 crore in Q2 September 2013 over Q2 September 2012.

Sobha Developers is a real estate developer. It is primarily focused on residential and contractual projects.

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