Sobha Hits 52-Week Low as Q2 Profit Falls 54.6%

Sobha shares hit a 52-week low of ₹1,112.10 as Q2 FY27 profit fell 54.6%. Key technical levels are ₹1,075 support and ₹1,260 resistance. Sobha Limited [

] hit a fresh 52-week low of ₹1,112.10 on 20 October 2026, declining as much as 5.43% following weak Q2 FY27 results. On 21 October, the stock recovered and traded 0.61% higher by 2:15 PM. The company's consolidated net profit fell 54.6% year-on-year to ₹33 crore from ₹72.5 crore. Revenue declined 31.3% to ₹967.1 crore from ₹1,407.6 crore, while profit remained below estimates of ₹82.5 crore. Meanwhile, presales increased 16% during the quarter, and CLSA upgraded the stock to Outperform despite the earnings decline. From a technical perspective, the broader trend remains bearish. The stock has traded within a broad range of approximately ₹1,075–₹1,735 for nearly two years and is currently hovering near the lower boundary. The weekly RSI stands at 36.92, below its average of 39.86, indicating weak momentum. My View: ₹1,075 remains a crucial support level, while ₹1,260 is the immediate resistance. A decisive weekly close below ₹1,075 could trigger a downside breakout, whereas a sustained move above ₹1,260, supported by strong volumes, would signal improving momentum and potential stabilisation. Disclosure & Disclaimer: I and my family members do not hold any position in the stock discussed. This content is provided solely for informational and educational purposes and should not be construed as investment advice or a recommendation to buy or sell any security. Investments in the securities market are subject to market risks. Please read all related documents carefully before investing.