Indian Hotels top gainer

Indian Hotels is the top gainer on the BSE since morning. The stock is currently up 11% at Rs.67.20, and this is after hitting a new 52-week high at Rs.68.50.

This hospitality stock and most others – Taj GVK, EIH Associated and Hotel Leela; all are up due to selective institutional buying into these hotel stocks.

Indian Hotels has stated that Norway Pension acquired over 1 lakh shares of the company through the open market at an average market price of Rs.60.70/share. With this, the pension fund’s holding in the company has risen from 4.99% to 5.01%.