![]() Revenue surged 40 percent on-year to Rs 868.2 crore for the quarter, with highest ever quarterly sales volume of 1.48 million square feet, however, EBITDA fell 41 percent YoY to Rs 88.8 crore. In this episode of Market Minutes, Shailaja Mohapatra talks about the key data. ![]() ![]() The company's Q3 performance was not much encouraging either. It reported a 48 percent on-year decline in consolidated profit at Rs 31.8 crore for the quarter ended December FY23, impacted by weak operating performance. Titan, Sobha, city gas stocks & the week ahead on D-Street Market Minutes. It is an excellent real estate company charts have just reversed from oversold condition and now consolidating at current levels before upward movement. Since then, the stock has fallen 26 percent. One can buy at current levels and accumulate more Buy Sobha realty in 435-450 range for target of 470 and second target 485 within 2 months. Prior to that in December, the Enforcement Directorate had attached Sobha's land assets in Kerala worth Rs 201 crore under the provisions of the Prevention of Money Laundering Act, 2002 (PMLA). What is the market cap of Sobha Market Capitalization of Sobha stock is Rs 4,290.35 Cr. In last 1 Month, Sobha share price moved down by 12.88. Sobha share price was down by 2.22 based on previous share price of Rs. In January, the Bruhat Bengaluru Mahanagara Palike (BBMP) had cancelled the Occupancy Certificate (OC) of the 2,000-unit Sobha City apartment in Thanisandra Main Road. It alleged that the apartment builder had submitted a fake no objection Certificate (NOC) of the Fire Department. Sobha share price was Rs 452.35 as on 21 Apr, 2023, 03:56 PM IST. Troubles have been mounting for the developer. (What's moving Sensex and Nifty Track latest market news, stock tips and expert advice on ETMarkets. We take the quality of the messages posted on forum as seriously as our articles. Sobha’s share of the quarterly sales value of Rs 1207 crore is also at its historical highest up 8.7 from the previous quarter and 29.1 compared to Q4FY22. The company's factories making wood, aluminium, and concrete products were also searched. sobha shares rally 4 on record rs 1,463-cr sales, but regulatory concerns linger. Local media reported that the raids began on Monday by I-T officials of the Bengaluru and Chennai divisions. The stock has underperformed the Nifty50 index and given negative returns of 33 as against a 0.2 fall seen in the benchmark over the one-year period. It is down 34.4 percent from its 52-week high level and has bled 15 percent in 2023 so far.įollow our live blog for all the market action Sobha's stock has been on a downward slope since the past four trading sessions, including today and corrected nearly 9 during this period. "All concerned employees of the company are extending their full cooperation to the officials," said the company.Īt 10:45am, the stock was quoting at Rs 494.20 on the NSE, lower by 4.7 percent. Sobha Ltd shares fell nearly 5 percent on March 22 after the real estate developer informed exchanges of an Income Tax search at its registered office and other premises. Sobha Ltd (SOBDEV) HOLD Balance sheet deleveraging on track outlook muted About the stock: Sobha Ltd (Sobha) is a leading real estate player with ongoing, 14.
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