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Buy Sobha, target Rs 500: Manas Jaiswal

Manas Jaiswal of manasjaiswal.com has a buy call on Sobha Ltd. with a target price of Rs 500.0 . The current market price of Sobha Ltd. is Rs 472.5 Time period given by analyst is Intra Day when Sobha Ltd. price can reach defined target. Manas Jaiswal recommended to keep stoploss at Rs 460. Sobha Ltd., incorporated in 1995, is a midcap company with a market cap of Rs 4481.47 crore.

Sobha Ltd. key Products/Revenue Segments include Property Development which contributed Rs 1224.06 Crore to Sales Value (55.02 % of Total Sales), Income From Construction Work which contributed Rs 598.53 Crore to Sales Value (26.90 % of Total Sales), Income From Glazing which contributed Rs 149.07 Crore to Sales Value (6.70 % of Total Sales), Land Development Rights which contributed Rs 107.86 Crore to Sales Value (4.84 % of Total Sales), Income From Interiors which contributed Rs 93.39 Crore to Sales Value (4.19 % of Total Sales), Income From Financial Services which contributed Rs 28.24 Crore to Sales Value (1.26 % of Total Sales), Concrete Blocks which contributed Rs 27.00 Crore to Sales Value (1.21 % of Total Sales), Interest which contributed Rs 4.31 Crore to Sales Value (0.19 % of Total Sales), Scrap which contributed Rs 3.03 Crore to Sales Value (0.13 % of Total Sales)for the year ending 31-Mar-2017.

For the quarter ended 30-09-2018, the company has reported a Consolidated sales of Rs 658.70 Crore, up 10.21 % from last quarter Sales of Rs 597.70 Crore and up 1.87 % from last year same quarter Sales of Rs 646.60 Crore Company has reported net profit after tax of Rs 61.40 Crore in latest quarter. The companys top management includes Dr.Punita Kumar Sinha, Dr.S K Gupta, Mr.Anup Shah, Mr.J C Sharma, Mr.R V S Rao, Mr.Ravi PNC Menon. Company has BSR & Co. LLP as its auditoRs As on 30-09-2018, the company has a total of 94,845,853 shares outstanding.

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