Hospitality stocks on comeback trail
Analysts say that there is no fundamental change in the sector outlook, stocks were on the path to recovery after being oversold. Gainers & Losers | Market Calendar
By INDIATIMES NEWS NETWORK |
MUMBAI: Stocks in the hospitality sector have been witnessing a gradual and steady rise in the last one month. As against overall 10 per cent rise in the Sensex, these companies have shown 20-100 per cent rise in stock price.
Analysts say that though there is no fundamental change in the sector outlook, stocks were on the path to recovery after being oversold in the past few months. ���Hotels were under pressure and had seen a sharp fall, this is more of a technical bounce back in these stocks,��� said a research analyst tracking hotels.
Analysts say that though there is no fundamental change in the sector outlook, stocks were on the path to recovery after being oversold in the past few months. ���Hotels were under pressure and had seen a sharp fall, this is more of a technical bounce back in these stocks,��� said a research analyst tracking hotels.
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In Wednesday���s trade, Viceroy Hotels was up 6.34 per cent, it has gained 26.11 per cent in the past one month, Tulip Star was locked at 5 per cent upper circuit at Rs 135.75, it has had a dream run, appreciating 100 per cent in past 30 days, Taj GVK Hotel was flat at Rs 145.95 but has managed to advance 32.62 per cent in one month period.
Hotel Leela Ventures was down 2.77 per cent but the last one month has seen the scrip rising 17.47 per cent, Bhagwati Banquets was up 3.46 per cent, it has appreciated 18.26 per cent in one month, Royale Manor was up 5.83 per cent and surged 41.50 per cent in one month.
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