Real estate developer Sobha Ltd has risen as much as 6 percent today, thrice as much as the benchmark sectoral gauge, the BSE Realty Index.
The stock has grown nearly 62 percent so far this year, not far behind the BSE Realty Index as developers expect to benefit from reforms in the housing sector. The government’s push to affordable housing, the new Real Estate Regulation Act and eased norms for investment trusts have driven the rally.
While stocks of most property developers have risen at least 25 percent during the year, Sobha offers the highest return potential at 15 percent, according to Bloomberg data.
In this chart, you would see while all the analysts covering Phoenix Mills and Prestige Estate have a ‘buy’ rating on them, but the two stocks are not expected to rise as much as Sobha.
Nearly 75 percent of the analysts advise a ‘buy’ on the company.
The company has reported a sequential growth of 13 percent in sales volume for the three months ended June, largely due to higher volumes in the National Capital Region and an uptick in Bengaluru.
That’s your chart of the day!
Disclaimer: Only companies covered by 10 or more analysts on Bloomberg were considered for analysis.