Royal Orchid Hotels has rallied 8% to Rs 46.75 after its board approved the debt restructuring plan.
“The board of directors of the company has accorded its consent for making reference to the Corporate Debt Restructuring (CDR) Cell for restructuring the debts of the company under CDR mechanism formulated by Reserve Bank of India,” Royal Orchid Hotels said in a statement.
The stock opened at Rs 44.80 and hit a high of Rs 47.70 on the NSE. A total 77,402 shares have changed hands on the counter so far on both the exchanges.