QUICK TAKE: SOBHA STOCK SURGES ON STRONG Q2 SALES

Shares of Sobha hit a new high of ~900 in intra-day trade and closed 17% up at ~885, after the real estate developer reported its best-ever sales volume of 1.35 mln sq ft worth ~1,032 crore for Q2. Edelweiss says Rera-driven consolidation is throwing up opportunities for organised players such as Sobha