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Business News » India News

Sobha's stocks fall nearly 9% in morning trade after promoter announces to sell 4 million stakes

The stock of Sobha declined 8.92% to Rs 378.50 in the morning trade on the BSE on Monday after its promoter announced last week to sell four million stakes in the company.

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Sobha's stocks fall nearly 9% in morning trade after promoter announces to sell 4 million stakes
Bombay Stock Exchange (BSE) headquarters in Mumbai, Maharashtra, India. Image Source: IANS
Written By: Tejal Yerunkar
Updated: Mon, Apr 10, 2017
11:22 am
Mumbai , ZeeBiz WebDesk
RELATED NEWS
Sobha Ltd's stock down 5% intraday on weak Q4 earnings Sobha Ltd's stock down 5% intraday on weak Q4 earnings

Sobha shares fell nearly 9% in the morning trade on Monday after its promoter announced last week to sell four million stakes in the company.

The stock of Sobha declined 8.92% to Rs 378.50 in the morning trade on the BSE as compared to its previous close of Rs 415.55 on Friday.

ALSO READ: Sobha Ltd's stock down 5% intraday on weak Q4 earnings

The real estate company's promoter Sobha Menon last Friday announced to sell four million stakes in the company, cited Sobha in a filing to the BSE on April 7.

Sobha is listed on the National Stock Exchange of India (NSE) and BSE.

At 11:06 hours, the stock of Sobha was trading down 8.52% or Rs 35.40 at Rs 380.15 on the BSE.

See LIVE stock updates of Sobha here-

Sobha is real estate developer with presence in India, Dubai and Middle East.  

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
Sobha StocksMarketsInfrastructureBSENSENational stock Exchange of IndiaSobhaSobha MenonindiaDubaiMiddle East
RELATED NEWS
Sobha Ltd's stock down 5% intraday on weak Q4 earnings Sobha Ltd's stock down 5% intraday on weak Q4 earnings

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