Oriental Hotels up over 13%

Oriental Hotels rose to Rs.42 today from yesterday’s close of Rs.37.15. And this was not too far from its 52-week high of Rs.48.70. Volumes too have shown a sharp rise today of over 6 times.

The stock is reacting positively to its Q2FY18 performance which was announced yesterday. On a 9% (YoY) rise in revenue at Rs.87 crore, the company posted a turnaround with a net profit at Rs.3 crore v/s loss of Rs.1.4 crore in previous Q2.

EBITDA also showed a good improvement, a growth of 31% at Rs.13 crore and margins rose from 12/2% to 14.7%.

The company, which sports a “Taj” logo is owned 18.91% by Indian Hotels and another 14.66% is owned by Tata companies, taking the total tally to 33.57%. The promoters are the Reddy’s who own 19.57% stake and the total promoter holding is at 53.14%.