Recommended Stocks for December from CapitalHeight

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The chronicle of Sobha Developers Limited (SDL) was back to a decade of years. Mr. P N C Menon founded the company in 7th August of the year 1995. SDL is one of the largest and only one backward integrated company in the construction arena. Doing the business of construction, development, sale, management & operation of townships, housing projects, commercial premises and other related activities. SDL has a number of Group companies that support its backward integration model includes Sobha Interiors Division, Sobha Glazing and Metal Works Division, Sobha Concrete Products, Sobha Projects & Trade Division, Sobha Renaissance Information Technology, S & T Group - Oman, Indeset - UAE and Gulf International Construction & Interiors Company (GICI) - Qatar. Retail Division of the company includes SobhaRestoplus - Spring Mattress and Sobha Modular Office Furniture. SDL is an industry leader in Bangalore, Karnataka; contractual projects have also been constructed in Kerala, Andhra Pradesh, Orissa, Tamil Nadu, Punjab, Harayana and Maharashtra.

  • SOBHA is renowned for its world-class products. The Company conforms to the ISO 9001, ISO 14001 and OHSAS 18001 certifications for its quality, safety and environment management systems.
  • SOBHA bags the 'Best Professionally Managed Company' (turnover > INR 1000 crores), Achievement Award for Social Development & Impact and the 'Best Construction Project Award’ for SOBHA Westhill at the 9th CIDC VISWAKARMA Awards.
  • SOBHA has been adjudged the top brand according to Track2Realty Best Practices Report 2017 across several categories – EXECUTION, CONSUMER CONNECT, TRANSPARENT DEALS, CARE, COMMUNICATION and DESIRABLE PRACTICES
  • SOBHA honoured with CARE AWARDS 2017 in the category of 'Best CSR activity'.

Fundamental Analysis

Company has market cap of 6682 cr and Its residential projects include luxury and super luxury apartments villas row houses presidential apartments plotted developments and aspirational homes and contractual projects for corporate entities comprise offices convention centers software development blocks multiplex theatres hostel facilities hotels guest houses food courts restaurants research centers club houses and factory buildings.Beta of the stock for one month range is 0.79.

  • Company has been maintaining a healthy dividend payout of 20.93%
  • Promoter's stake has increased
  • The company has delivered growth of 9.63% over past five years.
  • Company has a good return on equity of 7.21% for last 3 years
  • Company P/E is 30.81 which is less than industry P/E of 43.09 which indicates that company is undervalued.
  • Boyught buy 20 mutual fund schemes and sold buy only 2 mutual fund schemes

Technical Analysis

Sobha Developers is one of the highest gainer stock in the month of November and gave strong monthly closing. Earlier the stock gave strong break out on weekly chart in the 2nd week of October above 430. Since then the stock rallied nearly 200 points in just 8 weeks. If we look at its long term chart, it is just a beginning of a mid-term uptrend and expects to continue uptrend in the upcoming moths.

  • The stock gave consolidation break out in the last week of November with heavy volume.
  • It gave closing above its historical weekly and monthly resistance of 580
  • 555 was the key resistance and the stock consolidated near this level before giving a break out and now it becomes a strong support for the stock
  • 21 day EMA also holds support on weekly chart s
  • A short decline is expected in the upcoming trading sessions and buying at pull back is suggested
  • If it sustains above 580 and not give weekly closing below this level, then it would be a strong reason to buy this stock

Buy on dips between 560 and 580 is recommended for the target of 650-700 with the stop loss below 510. Also one can hold for 900 to 1000 levels for the holding period of 4 to 6 months

Supports and Resistance (Monthly)

· Resistance 1- 655 Supports 1- 510

· Resistance 2- 720 Supports 2- 445

· Resistance 3- 795 Supports 3- 398

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Domain: Business
Category: Sales & Marketing
Posted By: Commodity Tips and Contact Commodity Tips
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