Kamat Hotels rallied on bourses during Wednesday’s trade gaining nearly 10% on BSE at 1048 hours. The stock also traded on a fresh 52-week high of Rs 108.50 per share and breached upper circuit for the third straight session.
The stock on NSE attracted a total traded volume of 1,28,052 shares and a traded value of Rs 137.36 lakh. The stock on yearly basis has given 214.20% returns and has outperformed BSE Small cap index and Nifty Service sector index.
The rally in the share prices can be likely attributed to the stake buy of 5 lakh shares or 2.1% stake at Rs 96.39 each by KIFS Enterprise.
Kamat Hotels (India) Limited is engaged in the business of hospitality and allied businesses. The company principally operates hotels and restaurants. The company's activities are categorized as: operation of hotels owned by the company, management of hotels owned by other parties under contract, catering services and timeshare. It has four brands, such as Orchid, VITS, Gadh and Lotus.
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