Indian Hotels Company rose 5.44% to Rs 85.25 at 13:20 IST on BSE on bargain hunting after the stock tumbled 15.96% in the preceding 14 trading sessions to Rs 80.85 on 18 August 2014, from a recent high of Rs 96.20 on 25 July 2014.
Meanwhile, the BSE Sensex was up 69.93 points, or 0.26%, to 26,460.89.
On BSE, so far 1.33 lakh shares were traded in the counter, compared with an average volume of 3.69 lakh shares in the past one quarter.
The stock hit a high of Rs 85.40 and a low of Rs 80 so far during the day. The stock hit a 52-week high of Rs 111.60 on 25 June 2014. The stock hit a 52-week low of Rs 40.10 on 21 August 2013.
The stock had underperformed the market over the past one month till 18 August 2014, falling 13.58% compared with 2.92% rise in the Sensex. The scrip had also underperformed the market in past one quarter, rising 9.33% as against Sensex's 9.41% rise.
The mid-cap company has an equity capital of Rs 80.75 crore. Face value per share is Re 1.
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On a consolidated basis, Indian Hotels Company reported net loss of Rs 34.82 crore in Q1 June 2014, higher than net loss of Rs 19.09 crore in Q1 June 2013. Net sales rose 3.2% to Rs 937.46 crore in Q1 June 2014 over Q1 June 2013. The result was announced on 11 August 2014.
Indian Hotels Company and its subsidiaries are collectively known as Taj Hotels Resorts and Palaces.
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