Sobha spurts on bargain hunting

Sobha rose 5.42% to Rs 382.85 at 11:01 IST on BSE on bargain hunting after a recent slide.

Meanwhile, the S&P BSE Sensex was down 60.26 points, or 0.20% to 29,583.22.

On the BSE, 73,000 shares were traded in the counter so far, compared with average daily volumes of 1.26 lakh shares in the past one quarter. The stock had hit a high of Rs 385 and a low of Rs 359.20 so far during the day.

The stock hit a 52-week high of Rs 423.30 on 7 April 2017. The stock hit a 52-week low of Rs 224.05 on 22 November 2016.

The stock had outperformed the market over the past one month till 12 April 2017, rising 18.83% compared with 0.68% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 39.62% as against Sensex's 8.79% rise.

The mid-cap company has equity capital of Rs 96.30 crore. Face value per share is Rs 10.

Shares of Sobha fell 12.61% in three trading sessions to settle at Rs 363.15 yesterday, 12 April 2017, from its close of Rs 415.55 on 7 April 2017.

Sobha's consolidated net profit rose 7.9% to Rs 39.40 crore on 24.4% increase in net sales to Rs 540 crore in Q3 December 2016 over Q3 December 2015.

Sobha Group is one of the largest real estate organisations in India and the Middle East. It has presence in 24 cities and 13 states across India and throughout the Middle East.

Powered by Capital Market - Live News