Hotel Leelaventure jumps after clarification

Hotel Leelaventure jumped 7.42% to Rs 25.35 at 14:08 IST on BSE after the company issued a clarification with regard to a media news item.

The clarification was issued during market hours today, 22 August 2014.

Meanwhile, the S&P BSE Sensex was up 69.20 points or 0.26% at 26,429.31.

On BSE, so far 3.06 lakh shares were traded in the counter as against average daily volume of 2.53 lakh shares in the past one quarter.

The stock hit a high of Rs 25.70 and a low of Rs 24.20 so far during the day. The stock had hit a 52-week high of Rs 30.80 on 3 July 2014. The stock had hit a 52-week low of Rs 14 on 21 November 2013.

The stock had underperformed the market over the past one month till 21 August 2014, sliding 11.78% compared with Sensex's 2.51% rise. The scrip had also underperformed the market in past one quarter, declining 7.99% as against Sensex's 8.49% rise.

The small-cap company has equity capital of Rs 90.32 crore. Face value per share is Rs 2.

Hotel Leelaventure during trading hours today, 22 August 2014 in a clarification with regard to news item titled "UK's Carnival Group offers Rs.850 crore to buy Leela Chennai" said that the company/senior management continue to evaluate proposals to raise funds/equity by different available options and has been approached by potential investors. As soon as any discussion reaches a mature stage and binding agreement signed, the stock exchanges will be notified, Hotel Leelaventure said.

Hotel Leelaventure reported a net loss of Rs 174.62 crore in Q1 June 2014, higher than net loss of Rs 148.55 crore in Q1 June 2013. Net sales rose 5.6% to Rs 155.44 crore in Q1 June 2014 over Q1 June 2013.

Hotel Leelaventure owns and manages The Leela Palaces, Hotels and Resorts.

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