Chalet Hotels up 6%, hits 52-week high in a weak market on ratings upgrade

The Positive Outlook reflects a consistent recovery in CHL's business operations since 2QFY22, with 1QFY23 revenue and EBITDA exceeding the pre-COVID-19 levels.

Shares of Chalet Hotels hit a 52-week high at Rs 375.25, as they rallied 6 per cent on the BSE in Monday’s intra-day trade in otherwise weak market. In comparison, the S&P BSE Sensex was down 0.71 per cent at 57,018 at 09:41 am.

In the past one week, the stock of hotel company has surged 14 per cent after the rating agencies revised the Chalet Hotels’ credit rating and the outlook on the long-term issuer rating from ‘negative’ to ‘positive’ and ‘stable’. In comparison, the benchmark index was remained flat during the same period.

Chalet Hotels (CHL)