Taj GVK Hotels jumps after strong Q4 results

Taj GVK Hotels & Resorts rose 3.58% to Rs 69.40 at 15:13 IST on BSE after net profit surged 748.28% to Rs 4.92 crore on 1.26% rise in net sales to Rs 65.07 crore in Q4 March 2014 over Q4 March 2013.

The company announced the result during trading hours today, 12 May 2014.

Meanwhile, the BSE Sensex was up 548.92 points, or 2.39%, to 23,543.15.

On BSE, so far 47,000 shares were traded in the counter, compared with an average volume of 19,458 shares in the past one quarter.

The stock hit a high of Rs 71.80 and a low of Rs 65.05 so far during the day. The stock hit a 52-week high of Rs 75.90 on 15 April 2014. The stock hit a 52-week low of Rs 53.10 on 19 September 2013.

The stock had underperformed the market over the past one month till 9 May 2014, sliding 3.74% compared with 1.29% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 15.22% as against Sensex's 12.85% rise.

The small-cap company has an equity capital of Rs 12.54 crore. Face value per share is Rs 2.

Taj GVK Hotels & Resorts is a joint venture, formed through a strategic alliance, between the Indian Hotels Company (IHCL) and the Hyderabad-based GVK Group. GVK Group is a Hyderabad-based multi product and multi-location business conglomerate with several integrated companies in India and abroad. IHCL is a TATA enterprise with a chain of hotels owning the Taj Group of Hotels and manages and operates various hotels across the country and abroad.

The company owns and operates three five star hotels in Hyderabad and one five star hotel each in the cities of Chennai and Chandigarh.

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