Shares of realty firm Sobha on Tuesday gained nearly 11 per cent after the company reported a nearly three-fold jump in its consolidated net profit for the quarter ended September.
The stock jumped 10.36 per cent to its 52-week high of Rs 976.70 on BSE. On NSE, it zoomed 10.70 per cent to its 52-week high of Rs 980.
At 1.16 PM, the stock jumped 2.94 percent to Rs 911.05. On the NSE, the shares were up 2.93 percent to Rs 911.10 apiece.
The realty firm on Monday reported a nearly three-fold jump in its consolidated net profit at Rs 48.3 crore for the quarter ended September and announced plans to raise Rs 140 crore through the issue of debentures.
Its net profit stood at Rs 16.2 crore in the year-ago period.
Total income also increased to Rs 832.3 crore in the second quarter of this fiscal year, from Rs 545.9 crore in the corresponding period a year ago, Sobha said in a regulatory filing.
The board has approved the issue of unlisted secured non-convertible redeemable debentures (NCDs) on a private placement basis. The size of the issue is Rs 140 crore in one or more tranches, the filing added.
(With inputs from PTI)
