 "Hotel Leelaventure surges over 10% on asset sale plan report")
Hotel Leelaventure has rallied 12% to Rs 23.95 on the National Stock Exchange (NSE) on heavy volumes after the company said it has engaged JM Financial Institutional Securities Limited for sale of its Chennai and Goa Hotels.
“In accordance with the powers delegated by the Company's board, the Assets Sale Committee, in its meeting held on March 02, 2015 has decided to commence the process for sale of its hotels in Goa and Chennai,” Hotel Leelaventure said in a statement.
The company is inviting Expression of Interest (EOI) for sale of the company's two hotels in Goa and Chennai, it added.
For the first nine months (April – December) of the current financial year 2015-16, the company posted a 20% increase in net loss at Rs 460 crore as against Rs 384 net loss in the same period last year.
The stock opened at Rs 22 and touched a high of Rs 24.20 on NSE so far. Till 0952 hours, a combined 2.36 million shares already changed hands against an average sub one million shares that were traded daily in past two weeks on NSE and BSE.
“In accordance with the powers delegated by the Company's board, the Assets Sale Committee, in its meeting held on March 02, 2015 has decided to commence the process for sale of its hotels in Goa and Chennai,” Hotel Leelaventure said in a statement.
The company is inviting Expression of Interest (EOI) for sale of the company's two hotels in Goa and Chennai, it added.
For the first nine months (April – December) of the current financial year 2015-16, the company posted a 20% increase in net loss at Rs 460 crore as against Rs 384 net loss in the same period last year.
The stock opened at Rs 22 and touched a high of Rs 24.20 on NSE so far. Till 0952 hours, a combined 2.36 million shares already changed hands against an average sub one million shares that were traded daily in past two weeks on NSE and BSE.