TajGVK Hotels slips on profit taking

TajGVK Hotels & Resorts lost 3.43% to Rs 181.80 at 12:46 IST on BSE, with the stock sliding on profit booking after recent rally.

Meanwhile, the S&P BSE Sensex was up 193.03 points or 0.61% at 31,690.41. The S&P BSE Small-Cap index was up 145 points or 0.9% at 16,337.58.

On the BSE, 15,000 shares were traded on the counter so far as against the average daily volumes of 9,909 shares in the past one quarter. The stock had hit a high of Rs 188.65 and a low of Rs 180.45 so far during the day. The stock had hit a 52-week high of Rs 197.65 on 3 October 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 3 October 2017, advancing 23.44% compared with the Sensex's 1.24% fall. The stock had also outperformed the market over the past one quarter, gaining 13.47% as against the Sensex's 0.88% rise. The scrip had outperformed the market over the past one year, advancing 49.29% as against the Sensex's 11.52% rise.

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

Shares of TajGVK Hotels & Resorts had rallied 13.06% in the preceding four trading sessions to settle at Rs 188.25 yesterday, 3 October 2017, from its close of Rs 166.50 on 26 September 2017.

On a consolidated basis, TajGVK Hotels & Resorts reported a net profit of Rs 0.13 crore in Q1 June 2017 compared with net loss of Rs 0.14 crore in Q1 June 2016. Net sales rose 4.5% to Rs 59.44 crore in Q1 June 2017 over Q1 June 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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