 "Royal Orchid Hotels extends rally; zooms over 70% in seven days")
Royal Orchid Hotels locked in upper circuit of 10% at Rs 111.25, extending its past six trading sessions rally on the BSE, after SBI Mutual Fund sold its entire 8.44% stake in the company through open market.
Since December 30, the stock zoomed 75% from Rs 63.70 as compared to 3.6% decline in the S&P BSE Sensex.
On December 31, 2015, SBI Mutual Fund under its various schemes has sold 2.30 million shares representing 8.44% stake of the company through market sale, Royal Orchid Hotels said in a statement.
Accordingly, there is ‘Nil’ holding in the company as on the close of business hours of December 31, 2015, SBI Mutual Fund said.
The name of the buyers however, has not disclosed by the company.
However, January 4 & 5, Ashish Ramchandra Kacholia had bought 808,065 shares of Royal Orchid Hotels at an average price of Rs 94.91 per share through multiple block deals, the BSE & NSE data shows.
Till 02:24 p.m. a combined 716,981 shares changed hands and there were pending buy orders for 86,922 shares on the NSE and BSE.
Since December 30, the stock zoomed 75% from Rs 63.70 as compared to 3.6% decline in the S&P BSE Sensex.
On December 31, 2015, SBI Mutual Fund under its various schemes has sold 2.30 million shares representing 8.44% stake of the company through market sale, Royal Orchid Hotels said in a statement.
Accordingly, there is ‘Nil’ holding in the company as on the close of business hours of December 31, 2015, SBI Mutual Fund said.
The name of the buyers however, has not disclosed by the company.
However, January 4 & 5, Ashish Ramchandra Kacholia had bought 808,065 shares of Royal Orchid Hotels at an average price of Rs 94.91 per share through multiple block deals, the BSE & NSE data shows.
Till 02:24 p.m. a combined 716,981 shares changed hands and there were pending buy orders for 86,922 shares on the NSE and BSE.
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