Hospitality shares are demand on the bourses trading higher by up to 10% in otherwise weak market on reports of institutional buying.
Indian Hotels, EIH, Taj Gvk Hotels & Resorts and Hotel Leelaventure rose by 3-10% on the Bombay Stock Exchange (BSE). The benchmark S&P BSE Sensex was down 0.44% or 92 points at 20630 at 1115 hours.
Norway Pension has acquired over 100,000 shares of Tata Group Company Indian Hotels through open market.
Government pension fund global Norges Bank (Central Bank of Norway) increased its stake in the company to 5.01% from 4.99% earlier, Indian Hotel said in a BSE filing.
The foreign investor has purchased 125,000 equity shares at an average market price of Rs 60.70 per share on February 12, 2014, it added.
Among the individual stocks, Indian Hotels has surged over 10% at Rs 66.55 on the BSE. The stock opened at Rs 60 and touched a high of Rs 68 so far. The counter has seen huge trading activity with a combined 3 million shares changed hands against an average sub 1 million shares that were traded daily in past two weeks.
Taj Gvk Hotels & Resorts has rallied 8% to Rs 62.30, followed by EIH (5% at Rs 59.95), EIH Associated Hotels (4.5% at Rs 127) and Hotel Leelaventure (2.5% at Rs 15.91).
Indian Hotels, EIH, Taj Gvk Hotels & Resorts and Hotel Leelaventure rose by 3-10% on the Bombay Stock Exchange (BSE). The benchmark S&P BSE Sensex was down 0.44% or 92 points at 20630 at 1115 hours.
Norway Pension has acquired over 100,000 shares of Tata Group Company Indian Hotels through open market.
Government pension fund global Norges Bank (Central Bank of Norway) increased its stake in the company to 5.01% from 4.99% earlier, Indian Hotel said in a BSE filing.
The foreign investor has purchased 125,000 equity shares at an average market price of Rs 60.70 per share on February 12, 2014, it added.
Among the individual stocks, Indian Hotels has surged over 10% at Rs 66.55 on the BSE. The stock opened at Rs 60 and touched a high of Rs 68 so far. The counter has seen huge trading activity with a combined 3 million shares changed hands against an average sub 1 million shares that were traded daily in past two weeks.
Taj Gvk Hotels & Resorts has rallied 8% to Rs 62.30, followed by EIH (5% at Rs 59.95), EIH Associated Hotels (4.5% at Rs 127) and Hotel Leelaventure (2.5% at Rs 15.91).
