Govt okays Neelachal Ispat sale to Tata Steel Long Products; stock rises 6%; Adani Wilmar IPO subscribed 17.36 times; GMP halves in a week; Hotel stocks rally on improved outlook after third wave
Most hotel-related stocks gained ground in this backdrop, with Indian Hotels, EIH Ltd, Lemon Tree Hotels, TAJ GVK Hotels and Speciality Restaurants rallying up to 5 per cent
Among the triggers expected to boost sales are demand uptick and room additions
Earlier, the hospitality firm had said that it is looking to open three more properties under its upscale Aurika Hotels and Resorts brand across the country by the end of 2021.
The stock rallied 12% to Rs 77.15 on BSE after the company has formed a JV with an affiliate of Warburg Pincus, a leading global private equity firm, to create a co-living platform.