CLSA has raised its target price on the stock to Rs 850 from Rs 805 and maintained a buy rating. The brokerage said it’s bullish on the property developer because of its focus on the Bangalore realty market, where housing demand outlook remains strong. CLSA said Sobha generated free cash flows for the seventh straight quarter in April-June, resulting in its debt levels falling.
Nilesh Shah on why you should never predict the market
Nilesh Shah of Kotak AMC has advised people not to try to predict the market, stating that more often than not, they will be wrong.
June 3, 2023