Hotel stocks climb; Hotel Leela Venture rallies 5%

The Council is scheduled to meet on Friday, September 20, as per media reports.

Sep 18, 2019 11:09 IST India Infoline News Service

hotel stocks
Hotel stocks gained in the morning trade on Wednesday after media reports said the Goods and Services Tax (GST) Council could cut rates for five-star hotels to provide relief to the hospitality industry. GST rate fitment committee proposed to cut tax from 28% to 18% on hotel tariff of Rs7,500 and above, or to hike threshold tariff to Rs10,000 with 28%, the media report added.

The Council is scheduled to meet on Friday, September 20.

Reacting to this news, Hotel Leela Venture, Taj GVK Hotels, EIH Associate Hotels among other stocks gained in today’s trade.

Stock view:
Hotel Leela Venture Ltd is currently trading at Rs7.69, up by Rs0.34 or 4.63% from its previous closing of Rs7.35 on the BSE.

Kamat Hotels (India) Ltd is currently trading at Rs39.20, up by Rs3.1 or 8.59% from its previous closing of Rs36.10 on the BSE.

EIH Associated Hotels Ltd is currently trading at Rs320, up by Rs7.65 or 2.45% from its previous closing of Rs312.35 on the BSE.

Lemon Tree Hotels Ltd is currently trading at Rs55.25, up by Rs0.1 or 0.18% from its previous closing of Rs55.15 on the BSE.

Indian Hotels Co Ltd is currently trading at Rs132.40, up by Rs2.15 or 1.65% from its previous closing of Rs130.25 on the BSE.

TajGVK Hotels & Resorts Ltd is currently trading at Rs159.90, up by Rs12.9 or 8.78% from its previous closing of Rs147 on the BSE.

Royal Orchid Hotels Ltd is currently trading at Rs79.35, up by Rs4.2 or 5.59% from its previous closing of Rs75.15 on the BSE.

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