January 8, 2018 / 4:54 AM / 10 months ago

BUZZ-India's Sobha Ltd hits over 9-yr high on strong qtrly oper numbers

** Real estate developer Sobha Ltd gains as much as 14.8 pct to its highest since March 12, 2008

** Co reported 52 pct rise in sales volume and 92 pct rise in total sales value for Dec qtr vs year ago bit.ly/2Ejhe3U

** Records highest ever qtrly sales performance in terms of value and avg realisation in the qtr

** Says real estate sector saw subdued sales in last 3 qtrs due to various policy initiatives like goods and services tax

** But notes prices have stabilised and home loan interest rates are at a decade-low, making home purchases more attractive

** Stock posts biggest intraday pct gain since Oct 23, 2017

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