Buy Sobha Developers, says Kapoor

One can buy Sobha Developers at lower levels rather than going short on the stock, says Sahil Kapoor of Edelinvest Research.

Kapoor told CNBC-TV18, "Sobha Developers has had a very good run up of about 15-20 percent and the current fall is more or less part of a correction rather than a change of a trend. So I would read this as a sign of correction and I would let it go away and then buy Sobha at lower levels rather than go short on this counter. I will be more aggressive in realty stocks like Unitech, if it bounces back to about Rs 32 or possibly a stock like Housing Development Infrastructure (HDIL) if it comes back to levels of about Rs 73-75." Sobha's trailing 12-month (TTM) EPS was at Rs 18.60 per share. (Dec, 2012). The stock's price-to-earnings (P/E) ratio was 22.71. The latest book value of the company is Rs 204.00 per share. At current value, the price-to-book value of the company was 2.07. The dividend yield of the company was 1.18%.