Sobha Developers weak Despite Strong Quarterly Numbers
Sobha Developers came down 2.18% to Rs 795 in afternoon trading despite registering a 141.42% increase in net earnings in Q1 June 2007. The quarterly results were declared during the market hours today.
There were 93, 786 shares for trading on the BSE. In the last three months, its average daily volume was 70,339 shares.
The intraday high of the scrip was Rs 829 and its intraday low during the day was Rs 792. The stock has had its 52-week high of Rs 1179 on 20 December 2006 and a 52-week low of Rs 620 on 8 March 2007.
The share of the mid-cap realty growth and building company slumped 14.54% within the last thirty days to 10 August 2007 as compared to the Sensex’s increase of 1.48%.
The scrip had descended 13.59% from its new high of Rs 940.60 on 23 July 2007 to Rs 812.75 on 10 August 2007.
The company has recorded a net profit of Rs 40.8 crore, which showed an increase of 141.42 % in total income to Rs 269.2 crore in Q1 June 2007 over Q1 June 2006.
The company was established in Bangalore in 1995.