Indian Hotels gains after bulk deal

Indian Hotels Company rose 2.25% to Rs 127 at 15:25 IST on BSE after a bulk deal of 3.62 lakh shares was executed on the scrip at Rs 127 per share at 11:38 IST on BSE.

Meanwhile, the S&P BSE Sensex was up 109.19 points, or 0.34%, to 32,624.13

Bulk deal boosted volume on the scrip. On BSE, so far 4.10 lakh shares were traded in the counter, compared with average daily volume of 1.40 lakh shares in the past one quarter. The stock hit a high of Rs 127.90 and a low of Rs 124.05 so far during the day. The stock hit a 52-week high of Rs 145.65 on 18 May 2017. The stock hit a 52-week low of Rs 88.80 on 21 November 2016.

The stock had underperformed the market over the past one month till 31 July 2017, falling 6.86% compared with 5.15% rise in the Sensex. The scrip had also underperformed the market in past one quarter, declining 3.57% as against Sensex's 8.67% rise. The scrip had also underperformed the market in past one year, sliding 6.41% as against Sensex's 16.11% rise.

The large-cap company has an equity capital of Rs 98.93 crore. Face value per share is Re 1.

On a consolidated basis, Indian Hotels Company reported net profit of Rs 40.03 crore in Q4 March 2017 as compared with net loss of Rs 20.04 crore in Q4 March 2016. Net sales fell 1.93% to Rs 1049.39 crore in Q4 March 2017 over Q4 March 2016.

Indian Hotels Company and its subsidiaries, collectively known as Taj Group, are engaged in the business of owning, operating & managing hotels, palaces and resorts. The company is a Tata group company.

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