Shutterstock.comPrabhudas Lilladher has buy call on with a target price of Rs 760. The current market price of Sobha Ltd. is Rs 683.1. Time period given by analyst is 2 months when . price can reach defined target.
Sobha Ltd., incorporated in the year 1995, is a Mid Cap company (having a market cap of Rs 6570.92 Crore) operating in Real Estate sector.
Sobha Ltd. key Products/Revenue Segments include Income From Construction Work, Income From Financial Services, Land Development Rights, Income From Glazing, Income From Interiors, Concrete Blocks, Rental Income, Scrap for the year ending 31-Mar-2022.
Financials
For the quarter ended 30-06-2022, the company has reported a Consolidated Total Income of Rs 595.20 Crore, down -22.38 % from last quarter Total Income of Rs 766.80 Crore and up 13.37 % from last year same quarter Total Income of Rs 525.00 Crore. Company has reported net profit after tax of Rs 13.70 Crore in latest quarter.
Investment Rationale
The stock has overall been in a rising trend and recently after the short correction witnessed has stabilized near the 650 zone with currently picking up momentum and moving past the significant 50EMA level of 680 to improve the bias and anticipating for further rise in the coming days. The RSI has indicated a trend reversal to signal a buy and is well placed with strength indicated for further upward move. The brokerage recommends a buy in this stock for an upside target of 760 keeping a stop loss of 650.
Promoter/FII Holdings
Promoters held 51.99 per cent stake in the company as of 30-Jun-2022, while FIIs owned 15.02 per cent, DIIs 13.0 per cent.
Sobha Ltd., incorporated in the year 1995, is a Mid Cap company (having a market cap of Rs 6570.92 Crore) operating in Real Estate sector.
Sobha Ltd. key Products/Revenue Segments include Income From Construction Work, Income From Financial Services, Land Development Rights, Income From Glazing, Income From Interiors, Concrete Blocks, Rental Income, Scrap for the year ending 31-Mar-2022.
Financials
For the quarter ended 30-06-2022, the company has reported a Consolidated Total Income of Rs 595.20 Crore, down -22.38 % from last quarter Total Income of Rs 766.80 Crore and up 13.37 % from last year same quarter Total Income of Rs 525.00 Crore. Company has reported net profit after tax of Rs 13.70 Crore in latest quarter.
Investment Rationale
The stock has overall been in a rising trend and recently after the short correction witnessed has stabilized near the 650 zone with currently picking up momentum and moving past the significant 50EMA level of 680 to improve the bias and anticipating for further rise in the coming days. The RSI has indicated a trend reversal to signal a buy and is well placed with strength indicated for further upward move. The brokerage recommends a buy in this stock for an upside target of 760 keeping a stop loss of 650.
Promoter/FII Holdings
Promoters held 51.99 per cent stake in the company as of 30-Jun-2022, while FIIs owned 15.02 per cent, DIIs 13.0 per cent.
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