Kamat Hotels (India) is trading higher by 8% at Rs 71, extending its previous day's 20% rally, on back of heavy volumes on the bourses. The stock opened at Rs 65.85 and touched high of Rs 76.05 in early morning deals on the NSE. The counter has seen heavy activities in past two trading sessions on the bourses.
The stock has rallied 38% in past two trading sessions from Rs 55.15 on Monday. A combined 124,222 shares have already changed hands so far against an average less than 10,000 shares that were traded daily in past two weeks on the NSE and BSE.
The company engaged in hotel business has trimmed its net losses substantially to Rs 6.62 crore for the first half (April-September) of the current financial year 2013-14, due to lower total expenditure and interest cost. The company had loss of Rs 13.67 crore in the same period last fiscal.
Meanwhile, according to latest shareholding pattern, the promoters which held 57.99% stake in the company have pledged 77.53% or 9.87 million shares of their shares with the lenders.
The stock has rallied 38% in past two trading sessions from Rs 55.15 on Monday. A combined 124,222 shares have already changed hands so far against an average less than 10,000 shares that were traded daily in past two weeks on the NSE and BSE.
The company engaged in hotel business has trimmed its net losses substantially to Rs 6.62 crore for the first half (April-September) of the current financial year 2013-14, due to lower total expenditure and interest cost. The company had loss of Rs 13.67 crore in the same period last fiscal.
Meanwhile, according to latest shareholding pattern, the promoters which held 57.99% stake in the company have pledged 77.53% or 9.87 million shares of their shares with the lenders.