Viceroy Hotels slips on profit booking

Viceroy Hotels fell 4.61% to Rs 20.70 at 13:54 IST on BSE on profit booking after the stock jumped 35.63% in the preceding two trading sessions to Rs 21.70 on 1 January 2014 from a recent low of Rs 16 on 30 December 2013.

Meanwhile, the BSE Sensex was up 47.22 points, or 0.22%, to 21,187.70.

On BSE, so far 2.59 lakh shares were traded in the counter, compared with an average volume of 54,305 shares in the past one quarter.

The stock hit a high of Rs 22.55 and a low of Rs 20.25 so far during the day. The stock hit a 52-week high of Rs 27.75 on 23 January 2013. The stock hit a 52-week low of Rs 13.55 on 20 August 2013.

The stock had outperformed the market over the past one month till 1 January 2014, rising 37.78% compared with the Sensex's 1.68% rise. The scrip had also outperformed the market in past one quarter, gaining 37.78% as against Sensex's 8.32% rise.

The small-cap company has an equity capital of Rs 42.41 crore. Face value per share is Rs 10.

Shares of Viceroy Hotels surged 13.02% to Rs 21.70 on Wednesday, 1 January 2014, after the company said it concluded a deal to sell its projects in Chennai, including a luxury hotel and homes under construction, to Ceebros Hotels for Rs 480 crore.

Viceroy Hotels announced during market hours on Wednesday that the J.W. Marriott deal had been concluded in favour of Ceebros Hotels, Chennai as per the resolution passed by the shareholders and after reaching a settlement with the bankers of 'Chennai Project Division'.

It may be recalled that Viceroy Hotels' board at its meeting held on 8 May 2013, approved the proposal to sell the entire 'Chennai Project Division' comprising of 'Chennai Hotel Project' and "Chennai Residential Project" to Ceebros Hotels, Chennai for a total consideration of Rs 480 crore.

Viceroy Hotels reported consolidated net loss of Rs 1.83 crore in Q2 September 2013, higher than net loss of Rs 1.15 crore in Q2 September 2012. Net sales fell 4.8% to Rs 25.17 crore in Q3 December 2013 over Q3 December 2012.

Viceroy Hotels develops hotels, restaurants and new food and breweries (F&B) concepts.

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