Sobha gains on inking pact with Chintels to develop housing project in Gurgaon

23 Nov 2015 Evaluate

Sobha is currently trading at Rs. 302.25, up by 1.55 points or 0.52% from its previous closing of Rs. 300.70 on the BSE.

The scrip opened at Rs. 305.00 and has touched a high and low of Rs. 308.80 and Rs. 300.55 respectively. So far 5582 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 536.00 on 04-Dec-2014 and a 52 week low of Rs. 244.20 on 23-Sep-2015.

Last one week high and low of the scrip stood at Rs. 336.40 and Rs. 293.10 respectively. The current market cap of the company is Rs. 2952.21 crore.

The promoters holding in the company stood at 60.58% while Institutions and Non-Institutions held 33.61% and 5.81% respectively.

Realty firm Sobha has entered into partnership with Chintels India to develop a group housing project comprising of 1,700 flats in Gurgaon. In this regard the company will invest Rs 1,000 crore. The 39-acre project, which is expected to be launched by end of next month, would be developed in phases over the next 6-7 years.

Bengaluru-based Sobha is already developing a luxury villa project named ‘International City’ on a 150-acre land parcel near Dwarka Expressway in a tie-up with Chintels group and QVC Realty.

Sobha Developers has presence in seven cities -- Bangalore, Gurgaon, Chennai, Pune, Coimbatore, Mysore and Thrissur.


 

Sobha Share Price

1709.05 68.65 (4.18%)
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