Indian Hotels Co has fixed 05 October 2017 as record date for rights issue.

Powered by Capital Market - Live News

Indian Hotels Co will issue 20 crore equity shares for cash price of Rs 75 per share (including premium of Rs 74 per share) in the upcoming Rights Issue in the ration of 1 equity share for every 5 fully paid equity shares.

The Rights Issue will open on 13 October 2017 and close on 27 October 2017. The last date for receiving request for split application forms is 23 October 2017. The record date is 05 October 2017.

Powered by Capital Market - Live News

The announcement was made after market hours yesterday, 16 August 2017.

Meanwhile, the S&P BSE Sensex was up 96.64 points, or 0.3%, to 31,867.53.

On the BSE, 25,758 shares were traded in the counter so far, compared with average daily volume of 1.43 lakh shares in the past one quarter. The stock had hit a high of Rs 134.30 and a low of Rs 126.75 so far during the day. The stock had hit a 52-week high of Rs 145.65 on 18 May 2017. The stock had hit a 52-week low of Rs 88.80 on 21 November 2016.

The stock had outperformed the market over the past one month till 16 August 2017, gaining 1.49% compared with the Sensex's 0.78% decline. The stock had, however, underperformed the market over the past one quarter, declining 12.75% as against the Sensex's 3.89% rise. The scrip had also underperformed the market over the past one year, dropping 1.33% as against the Sensex's 13.21% rise.

The large-cap company has an equity capital of Rs 98.93 crore. Face value per share is Re 1.

On a consolidated basis, Indian Hotels Company reported net loss of Rs 24.96 crore in Q1 June 2017 as compared with net loss of Rs 169.45 crore in Q1 June 2016. Net sales fell 4.2% to Rs 907.30 crore in Q1 June 2017 over Q1 June 2016.

Indian Hotels Company and its subsidiaries, collectively known as Taj Group, are engaged in the business of owning, operating & managing hotels, palaces and resorts. The company is a Tata group company.

Powered by Capital Market - Live News

Net profit of Indian Hotels Co reported to Rs 6.86 crore in the quarter ended June 2017 as against net loss of Rs 9.00 crore during the previous quarter ended June 2016. Sales rose 10.41% to Rs 523.85 crore in the quarter ended June 2017 as against Rs 474.47 crore during the previous quarter ended June 2016.

Powered by Capital Market - Live News