Advani Hotels surges 20% after RK Damani & family ups stake in the company

Radhakishan S Damani, Shrikantadevi R Damani and M/s Derive Investments (partners- Radhakishan S Damani and Gopikishan S Damani) have acquired 145,203 equity shares or 0.31% stake in Advani Hotels.

Shares of Advani Hotels & Resorts (India) surged 20 per cent to Rs 99.45 on the BSE in Thursday’s intra-day trade after ace investor Radhakishan S Damani and his family increased their stake to 5.17 per cent in the company via open market purchases.

At 12:30 am; the stock traded 16 per cent higher at Rs 95 on the back of heavy volumes. In comparison, the S&P BSE Sensex was up 0.38 per cent at 58,220. The trading volumes at the counter jumped over four-fold with a combined 2.43 million shares representing 5.3 per cent of total equity of