Sobha spurts over 16% in three sessions

Sobha rose 7.49% to Rs 366 at 15:08 IST on BSE, extending recent gains triggered by fresh buying by investors.

Meanwhile, the S&P BSE Sensex was up 175.36 points, or 0.60% to 29,343.04.

On the BSE, 3.43 lakh shares were traded in the counter so far, compared with average daily volumes of 18,735 shares in the past one quarter. The stock had hit a high of Rs 381.90 so far during the day, which is also a 52-week high for the counter. The stock had hit a low of Rs 339 so far during the day. 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 22 March 2017, rising 17.78% compared with 1.41% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 38.75% as against Sensex's 12.27% rise.

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

Shares of Sobha have risen 16.12% in three sessions from its close of Rs 315.20 on 20 March 2017.

On a consolidated basis, net profit of Sobha rose 7.95% to Rs 39.40 crore on 24.37% rise 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.

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