Exit Sobha Developers on rally: Hitendra Vasudeo

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Exit Sobha Developers on rally: Hitendra Vasudeo

Hitendra Vasudeo of stocksmechanics.com is of the view that one should exit Sobha Developers on rally.

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Excerpts from Bazaar on CNBC-TV18 Watch the full show » ALSO READ See previous views by Hitendra Vasudeo See what other Experts & Brokerages are saying about Sobha Developer See messages about Sobha Developer

Hitendra Vasudeo of stocksmechanics.com is of the view that one should exit Sobha Developers on rally.

Vasudeo told CNBC-Awaaz, "Investors should exit Sobha Developers on rise. All realty stocks are looking under pressure. If any rally comes in Sobha Developers then one should sell it."

He further added, "Sobha Developers has important support at Rs 184-200. If it breaks that level then we can see lower levels in future."

The company's trailing 12-month (TTM) EPS was at Rs 18.25 per share. (Jun 2011). The stock's price-to-earnings (P/E) ratio was 11.99. The latest book value of the company is Rs 189.33 per share. At current value, the price-to-book value of the company was 1.16. The dividend yield of the company was 1.37%.