This real estate stock is skyrocketing more than 21% in one week. Should I buy?
A residential and commercial real estate company, Sobha has seen strong buying sentiment in equity markets after posting strong sales that beat analysts’ estimates for the quarter ending June 2022 (Q1FY22). On Friday, shares of Sobha settled on a bullish note, however, within a week the company posted double-digit growth. With strong sales bookings and new launches, Sobha is well positioned in the upcoming industry. ICICI Securities has assigned a buy rating to the Sobha stock.