Sobha rose 1.2% to Rs 408 at 12:42 IST on BSE after a large bulk deal of 40.15 lakh shares was executed on the scrip at Rs 415 per share in opening trade on BSE.
Meanwhile, the S&P BSE Sensex was down 66.61 points or 0.22% at 29,860.73. The BSE Mid-Cap index was up 51.63 points or 0.36% at 14,328.17.
Bulk deal boosted volume on the scrip. On the BSE, 44.87 lakh shares were traded on the counter so far as against the average daily volumes of 41,524 shares in the past one quarter. The stock had hit a high of Rs 415 and a low of Rs 401 so far during the day.
The stock had hit a 52-week high of Rs 417 on 6 April 2017 and a 52-week low of Rs 224.05 on 22 November 2016. The stock had outperformed the market over the past one month till 6 April 2017, advancing 27.36% compared with the Sensex's 3.55% rise. The scrip also outperformed the market over the past one quarter, surging 51.59% as against the Sensex's 11.84% advance.
The mid-cap company has equity capital of Rs 96.30 crore. Face value per share is Rs 10.
On a consolidated basis, net profit of Sobha rose 7.95% to Rs 39.40 crore on 24.37% growth 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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