Sobha shares zoom 20% intra-day on strong Q2 sales

Shares of realty firm Sobha today soared 20 per cent in intra-day trade after the company posted 14 per cent increase in its sales bookings to Rs 592.7 crore in July-September period, highest in the last 10 quarters.
The stock zoomed 20 per cent to Rs 469.50 -- its highest trading permissible limit for the day -- on BSE. It finally ended at Rs 459.45, up 17.43 per cent.
On NSE, shares of the company advanced by 20 per cent to hit its upper circuit of Rs 470.20 during the day. The stock later closed 17.39 per cent higher at Rs 460.

Bengaluru-based Sobha Ltd sold properties worth Rs 675.1 crore during the second quarter of this fiscal, of which the company's share was Rs 592.7 crore.
The company said that its own new sales value of Rs 592.7 crore achieved during the second quarter of 2017-18 is highest in the past 10 quarters.