Sobha Ltd
By
Ruma Dubey
about 7 years ago
Sobha Ltd is the top loser on the bourses since morning. The reason? The promoter, Sobha Menon sold on Friday, some 40 lakh shares or 4.15% stake in the company. She sold the shares in the open market at an average price of Rs.414.90/share.
The shares were reportedly bought by Adawi Investment Holdings.
Sobha Menon had held 41.89% stake or 4.03 crore shares as at 31st Dec 2017.
When promoter sells stake, howsoever small, it spooks the market and that is we are seeing on this counter today morning.
The stock price tumbled down 9% to Rs.378.50. Its 52-week low is at Rs.224.05 and high at Rs.423.30.