Shares of the operator of well-liked Taj Group of motels – Indian Hotels – rose as a lot as 13.51 per cent to hit an intraday excessive of Rs 169.20 on the again of surge in buying and selling volumes. As many as 13.24 lakh shares modified fingers on the BSE in contrast with a mean of 4.79 lakh shares traded every day up to now two weeks. On the National Stock Exchange, as many as 3.02 crore shares have been traded by 1:13 pm. Surge in Indian Hotels inventory value got here after information confirmed choose up in air site visitors indicating rise in demand for journey and tourism, analysts mentioned.
Hotel shares are in demand amongst traders because the opening up of the economic system, with curbs on journey and tourism being eased augurs effectively for the hospitality enterprise, mentioned analysts.
Taj GVK Hotels, EIH Hotels, Hotel Leela, Oriental Hotels, Lemon Tree and Royal Orchid Hotels additionally rose between 3-6 per cent.
Indian Hotels shares have thus far this yr jumped 41 per cent, outperforming the Sensex which has 23 per cent.
As of 1:22 pm, Indian Hotels shares traded 11 per cent increased at Rs 165.50, outperforming the Sensex which was buying and selling on a flat be aware.