BSE Code: | NSE Code: | ISIN: | Sector:
Research Report Detail
|Report Date||Call||Price@Call||Target Price
|Current Status||Time Horizon|
|Closed|| Long (1Y)
Edelweiss maintains buy on Sobha Ltd
Edelweiss has maintained buy on Sobha Ltd for target price of Rs 693. It says Sobha reported 11% QoQ rise in new sales of Rs 560 crore above pre-demonetisation level and highest since Q4FY15. Bangalore and Gurgaon markets were key growth drivers. Edelweiss adds that it expects Sobha's new sales to improve in quarters ahead given favourable macros, interest rate benefits under Pradhan Mantri Awaas Yojna (PMAY) and new demand creation led by strong office space absorption.