Sobha Developers enters Retail business

Sobha Developers Ltd has announced that the Company has commissioned a state-of-the-art Spring Mattresses factory at Bommasandra, Bangalore. It plans to sell the mattresses in the retail market under the brand name, "SOBHA RESTOPLUS". The production facility on a 2 shift basis would be 200 mattresses a day.

Immediately upon launch of its "Sobha Restoplus", the Company has received a prestigious order for Spring Mattresses from Infosys worth Rs 2.4 Crores.

The Company is also planning to sell office furniture & home furniture produced in this factory for the retail market from its 3rd phase of its production facility for furniture and joinery.

The stock closed the day at Rs.914.95, down by Rs.15.50 or 1.67%. The total traded quantity was 37344 compared to 2 week average of 109250. The stock hit an intraday high of Rs.941.90 and low of Rs.911.

Source : Equity Bulls

Keywords