Sobha Limited Rises Over 5% On Bargain Hunting


Indian multinational real estate developer headquartered in Bangalore, Sobha Limited, in Thursday’s trade witnessed a huge rise by 5.4% on the NSE, 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. 

The stock hit a 52-week high of Rs 423.30 on April 7, 2017; and a 52-week low of Rs 224.05 on November 22, 2016.
 
Sobha's consolidated net profit rose 7.9% to Rs 39.40 crore due to 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.

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