Hospitality stocks see gains today

30 Nov 2022 , 02:27 PM

Wednesday’s intraday trades saw strong demand for shares of hotel firms, with some of these stocks rising to 9% on the BSE in significant volume in an otherwise range-bound market. The anticipation of future significant profit growth led to the buying at these counters.

TajGVK Hotels & Resorts, Lemon Tree Hotels, and Oriental Hotels all had a 7—9% increase in value on the BSE. Indian Hotels Company, EIH Hotel, and Mahindra Holidays & Resorts India all had increases of 2% to 3%. In contrast, at 12:43 PM, the S&P BSE Sensex was up 0.12% at 62,757.

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