Advani Hotels & Resorts (India) is currently trading at its upper circuit limit of Rs. 51.60, up by 8.60 points or 20.00% from its previous closing of Rs. 43.00 on the BSE.
The scrip opened at Rs. 51.60 and has touched a high and low of Rs. 51.60 and Rs. 51.60 respectively. So far 7387 shares were traded on the counter.
The BSE group 'B ' stock of face value Rs. 2 has touched a 52 week high of Rs. 51.60 on 14-Jul-2014 and a 52 week low of Rs. 27.10 on 01-Aug-2013.
Last one week high and low of the scrip stood at Rs. 51.60 and Rs. 42.95 respectively. The current market cap of the company is Rs. 238.49 crore.
The promoters holding in the company stood at 50.17% while Institutions and Non-Institutions held 0.13% and 49.71% respectively.
ITC’s hotel division, reportedly is close to acquiring the Ramada Caravela Beach Resort from Advani Hotels & Resorts in a deal which may cost around Rs 700 crore. The 199-room, five-star deluxe hotel, which had a third of its rooms renovated in October last year is managed by US headquartered Wyndham Worldwide. With this, ITC may be able to get its first luxury property in Goa, which among country’s top tourism destinations.
The hotel has more than 1 lakh sq ft of additional floor space index (FSI) available, which will be utilised by the potential acquirer to undertake any expansion, adding new services such as a spa or more rooms or villas and conference centres, among others. FSI refers to the ratio that determines how many floors a building can have. The Ramada property has substantial scope for expansion and is very close to the sea, making it an ideal choice for a luxury hotel operator.
Meanwhile, ITC is planning at launching six new hotels by 2018. The company will soon open resort properties in Manesar near Gurgaon and Mahabalipuram near Chennai, followed by upcoming premium hotels in Hyderabad, Kolkata and Ahmadabad, slated to be launched in 2014-2017.
| Company Name | CMP |
|---|---|
| Indian Hotel | 581.80 |
| EIH | 428.35 |
| Mahindra Holi.&Resor | 410.35 |
| Chalet Hotels | 842.85 |
| Lemon Tree Hotels | 143.00 |
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