Advani Hotels and Resorts (India) has hit the upper circuit for second day in a row, up 20% at Rs 60.70 on the NSE on reports that ITC Hotels could be close to acquiring the Ramada Caravela Beach Resort.
The stock has rallied almost 44% from Rs 42.20 in past two trading sessions. At 0930 hours, a combined 15,151 shares changed hands and there are pending buy orders for 41,000 shares on the counter on NSE and BSE.
Meanwhile, on July 17, ITC on the clarification on BSE said that the captioned news item is speculative in nature. We would advise that the Company routinely scans strategic opportunities for business growth.
This process Involves dialogues from time to time with relevant parties across the country for different businesses. As and when there is conclusive development of a substantive nature, the Company keeps the stock exchanges informed in terms of the listing agreement. However, as a matter of best practice, we do not respond to market rumours, it added.
The stock has rallied almost 44% from Rs 42.20 in past two trading sessions. At 0930 hours, a combined 15,151 shares changed hands and there are pending buy orders for 41,000 shares on the counter on NSE and BSE.
Meanwhile, on July 17, ITC on the clarification on BSE said that the captioned news item is speculative in nature. We would advise that the Company routinely scans strategic opportunities for business growth.
This process Involves dialogues from time to time with relevant parties across the country for different businesses. As and when there is conclusive development of a substantive nature, the Company keeps the stock exchanges informed in terms of the listing agreement. However, as a matter of best practice, we do not respond to market rumours, it added.
