Sobha Developers @ 52 week high

RBI surprise rate cut of 50 basis points brought fresh interest of investors into some of the high quality real estate stocks such as Godrej Properties and Sobha Developers. 

Sobha developers particularly have been very strong since past few months (see chart below) and has hit fresh 52 week high of Rs 367  on Wedneday 18th April 2012.

At the current market price of Rs.355 the stock has a market value of approximately Rs.3485 crores.

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