Sobha share price in the red but Jefferies retains buy, here is why

Jefferies has maintained a buy rating on the stock with the target at Rs 315 per share. It is of the view that the company should achieve 6-7 msf/year medium-term volume target.

Sobha share price was trading lower by half a percent in the morning session on October 14. The stock, which has added over 40 percent in the last six months, was trading at Rs 258.15, down Rs 1.90, or 0.73 percent at 0946 hours. It touched an intraday high of Rs 264. and an intraday low of Rs 256.10.

Global research firm Jefferies has maintained a "buy" rating on the stock with the target at Rs 315 per share. It is of the view that the company should achieve 6-7 msf/year medium-term volume target, according to a CNBC-TV18 report.

Capture

Sobha will business returning to normal soon, with customer inquiries nearing pre-COVID levels. Demand is driven by white-collar workers where salaries haven't declined. The company expects launches to resume from Q3. It also sees consolidation accelerating post-COVID.

Last week, CLSA maintained an "outperform" call on the stock. The global research firm retained the rating and raised the target to Rs 270 from Rs 252 per share. The company reported a sharp recovery in its pre-sales to 0.9 million square feet. Industry sales in Bengaluru are still 50 percent below pre-COVID level.

It has seen a marginal increase in debt due to its dividend payment in Q2 and has increased its presales estimates for FY21-23.\

Capture

According to Moneycontrol SWOT Analysis powered by Trendlyne, RSI is indicating price strength with the stock showing the highest recovery from 52-week low.

Moneycontrol technical rating is very bullish with moving averages and technical indicators being bullish.

Comments

Panacea Biotech shares hit 5% upper circuit after dengue vaccine completes phase I & II study

DengiAIl induced robust neutralising antibody responses against all the four dengue virus serotypes, the company has said in an exchange filing. Panacea Biotech share price hit 5 percent upper circuit on the BSE on September 24 after the company completed phases I and II study of its dengue vaccine candidate DengiAIl. "Panacea Biotec Ltd. is delighted to announce the successful completion of its Phase I/II study to evaluate the safety and immunogenicity of its vaccine, DengiAll, a single-dose liveattenuated tetravalent vaccine," the company said in an exchange filing. Live-attenuated vaccines contain weakened bacteria or viruses that trigger an immune response but do not cause disease. The company said DengiAIl induced robust neutralising antibody responses against all the four dengue virus serotypes. DengiAIl has been found to be safe and well-tolerated with no serious adverse effects, the company said. After a single-dose, more than 80 percent of the participants ...

Taking Stock | Profit-booking pulls Nifty below 14,450; Sensex drops 549 points

All the sectoral indices ended in the red with IT and PSU bank indices falling 2 percent each. The market remained under pressure on January 15 on the back of profit-booking across sectors amid weak global cues. At close, the Sensex was down 549.49 points or 1.11% at 49,034.67, and Nifty was down 161.90 points or 1.11% at 14,433.70. "The market witnessed profit-booking and following global trends. Nifty continues to resist 14,600 and has taken a dip towards 14,360. If the market closes below 14,380 levels, we might see a correction till the levels of 14,180-14,200. Momentum indicators like RSI, MACD are indicating a small correction in the markets," said Ashis Biswas, Head of Research at CapitalVia Global Research. All the sectoral indices ended in the red with IT and PSU bank falling 2 percent each. Broader markets performed in line with the main indices with BSE Midcap and Smallcap indices falling 1 percent each. Tech Mahindra, GAIL, HCL Tech, Wipro and ONGC...

Similar to 2020, D-Street is at record high ahead of Budget 2021; will history repeat itself?

Experts are of the view that a repeat of 2020 or what happened in March might not be possible but some consolidation cannot be ruled out. Back in March when everyone wanted to write-off 2020 from their books, hope and liquidity supported markets and investor sentiment. Nobody thought that after touching a 3-year low in March 2020, benchmark indices would give double-digit returns by the end of the year. The S&P BSE Sensex and Nifty50 rallied by about 15 percent in 2020 and the big outperformance came from the small and midcap stocks. The rally is still continuing in 2021. The S&P BSE Sensex, which climbed Mount 49K, is up over 3 percent while the Nifty50 is up over 4 percent so far in January. Sensex scaling the 49,000-mark and Nifty50 touching 14,500 levels ahead of the Budget 2021 could make anyone cautious about the strength of the rally. Back in January 2020, both Sensex and Nifty touched fresh highs ahead of Budget, and then the market fell like a pack of cards. The ...

SD Solutions

Search This Blog