Hotel Leala Ventures is trading weaker by 4% at Rs 25 on reports that Chittarath Poovakkatt Krishnan Nair, widely known as ‘Captain Nair’ for his army background, has decided to call it a day as chairman of Hotel Leela Venture.
Hotel Leela Venture will now have a unique structure at the top. While Nair’s elder son, Vivek Nair, who was vice-chairman and managing director, will now be the chairman and managing director, Dinesh Nair, the younger son, who was the joint managing director, has been elevated to co-chairman and managing director.
Meanwhile, on the financial front the company posted a net loss of Rs 96 crore in the December 2012 quarter compared to loss of Rs 99.65 crore during the same quarter previous year.
The stock opened at Rs 26 and registered a fresh 52-week low of Rs 25.50 in intra-day deals so far. As many as 2.9 million shares have changed hands on the National Stock Exchange.
