Sobha hits 52-week high on strong Q4 results
DSIJ Intelligence / 17 May 2017
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Sobha Developers, one of the leading real estate developers of the country, reported a 6 per cent hike in the company’s quarterly income, up from Rs 566 crore in the previous quarter to Rs 601 crore in the fourth quarter of the fiscal year 2017.
Sobha Developers, one of the leading real estate developers of the country, reported a 6 per cent hike in the company’s quarterly income, up from Rs 566 crore in the previous quarter to Rs 601 crore in the fourth quarter of the fiscal year 2017.
The strong results of the company in the fourth quarter of the fiscal spurt the company’s stock prices to a 52 week high on May 17, 2017. Hitting its 52-week high at 10:00 hrs IST with the stock trading at Rs 450, up by nearly 10 per cent on the bourses.
Furthermore, the company is likely to benefit more in the current fiscal with the implementation of RERA and GST.
At 12:30 hrs IST, the stock was up by 5.35 per cent to Rs 434.50 on the BSE on May 17, 2017.
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