Viceroy Hotels shines on the buzz of planing to sell entire 40% stake in Renaissance Hotel

09 Oct 2014 Evaluate

Viceroy Hotels is currently trading at Rs. 20.05, up by 1.05 points or 5.53% from its previous closing of Rs. 19.00 on the BSE.

The scrip opened at Rs. 20.00 and has touched a high and low of Rs. 20.80 and Rs. 19.85 respectively. So far 36092 shares were traded on the counter.

The BSE group 'B ' stock of face value Rs. 10 has touched a 52 week high of Rs. 26.30 on 13-Jun-2014 and a 52 week low of Rs. 14.75 on 20-Dec-2013.

Last one week high and low of the scrip stood at Rs. 20.80 and Rs. 18.75 respectively. The current market cap of the company is Rs. 85.66 crore.

The promoters holding in the company stood at 26.31% while Institutions and Non-Institutions held 1.27% and 72.42% respectively.

Viceroy Hotels is reportedly planning to sell its entire 40% stake in the upcoming Renaissance Hotel in Bangalore for around Rs 100 crore as it struggles to fund the project. The developer has been unable to fund the project due to lack of resources and inability to follow through on the project investment timelines.

JP Morgan Fund holds 60% stake in the 277-room hotel project overlooking the landmark Racecourse in Bangalore, which would be managed by the Marriott International under its Renaissance brand.

Viceroy Hotels, previously known as Palace Heights Hotels (PHHL) was incorporated in 1965. It operates a stately hotel -- Hotel Viceroy -- at Gandhi Nagar in Hyderabad.

 

Viceroy Hotels Share Price

104.35 -4.95 (-4.53%)
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