 "Hotel stocks in focus; Hotel Leela, Royal Orchid, TAJGVK hit 52-week high")
Shares of the companies engaged in hotel business are in focus and rallied by up to 19% on the bourses after Goldman Sachs has bought minority stake in Indian hotel investment and development firm SAMHI Hotels.
Jindal Hotels (up 19% at Rs 44.80) and Kamat Hotels (12% at Rs 57.90) rallied more than 15% on the BSE. Royal Orchid Hotels, Advani Hotels, Hotel Leelaventure, TAJGVK Hotels & Resorts and Viceroy Hotels gained between 5%-10%, while ITDC, EIH and Indian Hotels up 1%-3%. At 10:53 a.m. the S&P BSE Sensex was down 0.04% at 25,612.
Goldman Sachs has invested Rs 441 crore to pick up an equity stake in Gurgaon-based SAMHI Hotels, a company with a portfolio of 16 operational and 10 upcoming hotels under brands such as Marriott, Sheraton and Hyatt, the Business Standard report suggests.
According to Reuters report, Goldman Sachs has invested Rs 440 crore for a significant minority stake in Indian hotel investment and development firm Samhi Hotels. CLICK HERE TO READ FULL REPORT.
Meanwhile, Royal Orchid Hotels has locked upper circuit for second straight day, up 10% at Rs 100, also its 52-week high on the BSE. The stock zoomed 57% from Rs 63.70 on December 30, 2015 after SBI Mutual Fund has sold its entire 8.44% stake in the company through open market.
On December 31, 2015, SBI Mutual Fund under its various schemes has sold 2.30 million shares representing 8.44% stake of the company through market sale, Royal Orchid Hotels said in a statement. The name of the buyers however, has not disclosed by the company.
Besides, Royal Orchid Hotels, Hotel Leela Venture, Jindal Hotels, Mac Charles (India), TAJGVK Hotels & Resorts and Viceroy Hotels are trading at their respective 52-week highs on the BSE.
Jindal Hotels (up 19% at Rs 44.80) and Kamat Hotels (12% at Rs 57.90) rallied more than 15% on the BSE. Royal Orchid Hotels, Advani Hotels, Hotel Leelaventure, TAJGVK Hotels & Resorts and Viceroy Hotels gained between 5%-10%, while ITDC, EIH and Indian Hotels up 1%-3%. At 10:53 a.m. the S&P BSE Sensex was down 0.04% at 25,612.
Goldman Sachs has invested Rs 441 crore to pick up an equity stake in Gurgaon-based SAMHI Hotels, a company with a portfolio of 16 operational and 10 upcoming hotels under brands such as Marriott, Sheraton and Hyatt, the Business Standard report suggests.
According to Reuters report, Goldman Sachs has invested Rs 440 crore for a significant minority stake in Indian hotel investment and development firm Samhi Hotels. CLICK HERE TO READ FULL REPORT.
Meanwhile, Royal Orchid Hotels has locked upper circuit for second straight day, up 10% at Rs 100, also its 52-week high on the BSE. The stock zoomed 57% from Rs 63.70 on December 30, 2015 after SBI Mutual Fund has sold its entire 8.44% stake in the company through open market.
On December 31, 2015, SBI Mutual Fund under its various schemes has sold 2.30 million shares representing 8.44% stake of the company through market sale, Royal Orchid Hotels said in a statement. The name of the buyers however, has not disclosed by the company.
Besides, Royal Orchid Hotels, Hotel Leela Venture, Jindal Hotels, Mac Charles (India), TAJGVK Hotels & Resorts and Viceroy Hotels are trading at their respective 52-week highs on the BSE.