The stock has turned multibagger by rallying 257.17 per cent in the past one year. It has outperformed sub-index Nifty Realty's 128.70 per cent jump in a year.
Sobha share price: The stock surged 17.08 per cent to hit 52-week high price of Rs 1,552.30. At this price, the multibagger scrip has rallied 276.41 per cent from its one-year low of Rs 412.40, a level seen on March 29 last year.
Sobha shares closed 2.10% lower at Rs 1270.25 on January 5 against the previous close of Rs 1297.50 on BSE. Market cap of the firm fell to Rs 12,047 crore
Sobha reported a 37% increase in sales bookings at Rs 1,951.6 crore in the third quarter of this financial year, mainly on the back of strong housing demand in Bengaluru. Its sales bookings stood at Rs 1,424.7 crore in the year-ago period.
The volumes generated by high frequency trading firms (HFTs), more often than not, attracts retail investors to these stocks. The stocks gained between 7-18 percent as trading volumes jumped multi-fold compared to one-month average.