New Delhi, Oct. 5 -- A realty stock has been on a downtrend this year so far, underperforming the sectoral index BSE Realty as well as the benchmark index Sensex. However, despite the poor performance, brokerage firm Emkay Global Financial Services remains positive about it, anticipating a nearly 60% upside potential in it.

The stock is Sobha - a major realty player in India, with a presence across 27 Indian cities.

Sobha share price ended 1.51% down at Rs.1,197 on the BSE on Monday, 5 October, extending losses for the second consecutive session.

As per BSE data, the stock is down 18% year-to-date (YTD) compared to a 4% fall in the BSE Realty index and a 15% drop in the benchmark Sensex in the same period.

Over the last six months, th...