Buzzing stock: Sobha Ltd. surges by 3 percent on buy-back proposal
DSIJ Intelligence / 01 Aug 2017
The Board of Directors have scheduled a meeting on August 4, 2017, to consider the proposal for buy back of equity shares of the Company.
The Board of Directors have scheduled a meeting on August 4, 2017, to consider the proposal for buy back of equity shares of the Company. The unaudited financial results for Q1FY18 would also be considered and approved in the said meeting.
In FY17, revenue rose by 14.7 percent and net profit grew by 16.4 percent on YoY basis.
Today, the stock opened at price of Rs 408.65 and touched an intra-day high of Rs 410 in the morning session. An upside of 3 percent was seen today from its previous closing price.
In February 2017, the stock was trading at levels of Rs 259.95 and has made 52-week high Rs 449.05 in May 2017. The stock has shown an upside of 72 percent in last 6 months.
Sobha Ltd. is a Bangalore based real estate firm engaged in the construction and development of residential and commercial projects. It is also engaged in contractual projects.
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