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Emkay flags Sobha as 18% down YTD, sees near 60% upside

Sobha shares last closed at ₹1,197 on Oct. 5, and the brokerage pegs a ₹1,900 target price, implying 59% upside.

Reported · Written up by our desk · Industry

Emkay Global Financial Services said it remains positive on Sobha, even as the stock has fallen 18% year to date, underperforming both the BSE Realty index and the benchmark Sensex, according to LiveMint Markets.

The brokerage sees nearly 60% upside from its target price of ₹1,900. Emkay’s positive stance comes as Sobha ended 1.5% lower at ₹1,197 on Oct. 5, extending losses for a second straight session.

LiveMint Markets also notes Sobha’s recent performance range, including a 52-week high of ₹1,730.90 on Nov. 10 last year and a 52-week low of ₹1,131.10 on April 2.

In an exchange filing dated Oct. 2, Sobha reported its second-highest ever quarterly sales value, per LiveMint Markets.

Latest closeSensex 72,638.70 ▼0.6%

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