Stock market analysts are of the view that traders can buy Sobha Developers Limited stock to achieve an intraday target of Rs 250.

According to analysts, interested traders can purchase the stock around Rs 244-247 with a stop loss of Rs 240.

If the stock market remains positive, the stock pricing becomes more attractive, and reach above Rs 256.

Shares of the company, on Monday (Nov 09), closed at Rs 242.45 on the Bombay Stock Exchange (BSE). Current EPS & P/E ratio stood at 5.14 and 46.35 respectively. The share price has seen a 52-week high of Rs 302 and a low of Rs 67.45 on BSE.

Sobha Developers Ltd has recorded a net profit of Rs 275 million for the second quarter ended Sept 30, 2009. The company has a net profit of Rs 513 million in the same period of the last year.

The company's turnover in the period under review stood at Rs 2.26 billion as compared to Rs 2.30 billion for the same period of 2008.

Since its beginning, Sobha's status is built upon firm values, benchmark quality measures, uncompromising business ethos, focussed customer centric approach, healthy engineering, domestic research and growth and transparency in all areas of guiding business that have contributed in making Sobha a favored realty brand in both housing as well as commercial sections.

This was emphatically endorsed during its initial public offering in the year 2006 when the issue was oversubscribed by 126 times, which made history, being the initial episode of its kind in Indian capital markets.