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Viceroy Hotels touches the roof on plan to sell Chennai hotel

18 Apr 2012 Evaluate

Viceroy Hotels is currently trading at its upper circuit limit of Rs. 23.35, up by 1.10 points or 4.94% from its previous closing of Rs. 22.25 on the BSE.

The scrip opened at Rs. 23.35 and has touched a high and low of Rs. 23.35 and Rs. 23.35 respectively. So far 14607 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 37.70 on 22-Jul-2011 and a 52 week low of Rs. 14.65 on 04-Apr-2012.

Last one week high and low of the scrip stood at Rs. 23.35 and Rs. 19.25 respectively. The current market cap of the company is Rs. 99.02 crore.

The promoters holding in the company stood at 32.25% while Institutions and Non-Institutions held 0.30% and 67.45% respectively. 

Viceroy Hotels is likely to exit its Chennai hotel project as it has signed an agreement with the Chennai-based Mahal Hotels to sell the project in MRC Nagar. This hotel was to be managed by global chain JW Marriott. With this move, the company plans to focus on the existing projects and thereafter to take up new projects.

This marquee project was under advanced stage of implementation. The Hyderabad-based hospitality chain, had taken up this project with an outlay of about Rs 650 crore. It is looking to restructure its business operations by bringing down debt on its balance sheet. It had initiated a series of measures, including slump sale of Bangalore and Chennai properties.

Viceroy Hotels Share Price

142.45 2.70 (1.93%)
08-May-2026 16:59 View Price Chart
Peers
Company Name CMP
Indian Hotel 673.30
ITC Hotels 164.65
EIH 335.65
Chalet Hotels 788.70
Mahindra Holi.&Resor 239.45
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