Oriental Hotels tanks after bulk selling by Reliance MF

Oriental Hotels tumbled 7.01% to Rs 61.70 at 10:55 IST on BSE after Reliance Mid & Small Cap Fund sold 1.19 crore shares of the company at Rs 61.50 apiece in a bulk deal on the BSE yesterday, 23 January 2018.

Meanwhile, the S&P BSE Sensex was up 62.41 points or 0.17% at 36,202.39. The S&P BSE Small-Cap index fell 0.44%, underperforming the Sensex.

On the BSE, 2.20 lakh shares were traded on the counter so far as against average daily volumes of 1.05 lakh shares in the past one quarter. The stock had hit a high of Rs 66.40 and a low of Rs 60.45 so far during the day. The stock had hit a record high of Rs 68.50 yesterday, 23 January 2018 and a 52-week low of Rs 22.50 on 23 January 2017.

The small-cap company has equity capital of Rs 17.86 crore. Face value per share is Rs 1.

Shares of Oriental Hotels had witnessed a sharp rally in the prior four trading sessions to settle at Rs 66.35 yesterday, 23 January 2018, from its close of Rs 53.10 on 17 January 2018.

The company announced its Q3 results during market hours yesterday, 23 January 2018. Net profit fell 36.8% to Rs 2.37 crore on 2.6% growth in net sales to Rs 92.50 crore in Q3 December 2017 over Q3 December 2016.

Oriental Hotels is engaged in the business of hoteliering, including accommodation, restaurants and catering services.

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