Sobha Ltd climbs over 9% on reporting strong yearly sales

Shares of Indian multinational Real estate developer Sobha Limited  surged over 9% in early trade on Friday after the company informed the exchanges that its  fourth quarter and year 2017-2018 reached out to be the best ever in  terms of value with growth across regions and product group. 

The scrip was trading 8.60 per cent up at Rs 551.80 at the mid noon hours (12:40 IST). Shares of Sobha Ltd opened at Rs 535.00 and touched a high of Rs. 564.00 during the day. Benchmark BSE Sensex was down 21.98 points, or 0.07 percent, at 33,574 and NSE Nifty too down at 15.10 points or 0.15% at 10,310.04, at the same time.

On the NSE, the stock opened at Rs. 550.00, and it surged further to Rs. 564.00 higher by 10.82 percent over its previous closing price.

Sobha Ltd registered new sales volume of 3.63 million SQ.ft, with the total value at Rs. 2861 crore, as per filing.

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