Sobha is in focus today

Realty company, Sobha Ltd is in focus today, figuring among the top five gainers on the BSE. The stock price rose almost 5% to Rs.430. Its 52-week high is at Rs.449.05.

The stock is in the spotlight as its buyback offer for shareholders opened today.

The company plans to buyback up to 14.59 crore shares for an aggregate amount not exceeding Rs.62 crore at Rs.425 a share.

The buyback is proposed to be made from all existing shareholders, including promoters of the company on the record date (August 28) on proportionate basis.

The offer closes on 3rd Oct.