TAJGVK Hotels & Resorts declines on profit booking

TAJGVK Hotels & Resorts fell 4.22% to Rs 169 at 14:46 IST on BSE, with the stock sliding on profit booking after recent rally.

Meanwhile, the S&P BSE Sensex was down 54.83 points, or 0.18% at 31,216.45. The S&P BSE Small-Cap index was up 55.23 points, or 0.36% at 15,481.09.

High volumes were witnessed on the counter. On the BSE, 53,000 shares were traded on the counter so far as against the average daily volumes of 18,623 shares in the past one quarter. The stock had hit a high of Rs 182 and a low of Rs 166.85 so far during the day. The stock had hit a 52-week high of Rs 184 on 25 April 2017 and a 52-week low of Rs 92.55 on 21 November 2016.

The stock had outperformed the market over the past one month till 7 June 2017, advancing 6.52% compared with the Sensex's 4.73% rise. The scrip had also outperformed the market over the past one quarter gaining 38.88% as against the Sensex's 7.83% rise. The scrip had also outperformed the market over the past one year advancing 69.34% as against the Sensex's 15.78% rise.

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

TAJGVK Hotels & Resorts had rallied 17.75% in the preceding two trading sessions to settle at Rs 176.45 yesterday, 7 June 2017, from its closing of Rs 149.85 on 5 June 2017.

TAJGVK Hotels & Resorts' net profit fell 86.5% to Rs 0.78 crore on 5% decrease in net sales to Rs 73.43 crore in Q4 March 2017 over Q4 March 2016.

TajGVK Hotels & Resorts is a joint venture, formed through a strategic alliance, between the Indian Hotels Company (IHCL) and the Hyderabad based GVK Group.

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