Indian Hotels slips after large bulk deal

Indian Hotels Company rose 1.06% to Rs 92.80 at 10:36 IST on BSE after a bulk deal of 19.89 lakh shares was executed on the counter at Rs 92.75 per share at 09:35 IST on BSE today, 21 August 2015.

Meanwhile, the S&P BSE Sensex was down 386.73 points or 1.4% at 27,221.09

Bulk deal boosted volume on the Indian Hotels Company scrip. On BSE, so far 20.50 lakh shares were traded in the counter as against average daily volume of 46,288 shares in the past one quarter.

The stock hit a high of Rs 93.60 and a low of Rs 92.30 so far during the day. The stock had hit a 52-week high of Rs 127.25 on 5 December 2014. The stock had hit a 52-week low of Rs 85.15 on 20 August 2014.

The stock had outperformed the market over the past one month till 20 August 2015, falling 2.7% compared with 2.86% fall in the Sensex. The scrip, however, underperformed the market in past one quarter, falling 9.15% as against Sensex's 0.82% decline.

The mid-cap company has equity capital of Rs 80.75 crore. Face value per share is Re 1.

Indian Hotels Company reported a consolidated net profit of Rs 34.78 crore in Q1 June 2015 as compared to net loss of Rs 34.82 crore in Q1 June 2014. Net sales rose 10.2% to Rs 1032.92 crore in Q1 June 2015 over Q1 June 2014.

Indian Hotels Company is primarily engaged in the business of owning, operating & managing hotels, palaces and resorts.

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