/ Royal Orchids Acquires Amartara Hospitality, Surges 10% ~ Ways2Capital|Stock Tips|Stock Market Tips|Intraday Stock Tips|Stock Trading Tips|NSE BSE Tips

Wednesday, 11 January 2017

Stock of Royal Orchids Hotels, a small-cap company that operates and manages hotels and resorts, soared more than 10% in intraday trade after the company announced a major acquisition undertaken.

Company has acquired 24.9% shares in Amartara Hospitality Private Limited through its subsidiary. Amartara now becomes 100% subsidiary of Royal Orchids.
Amartara, which belongs to the hospitality industry, has a paid-up share capital of Rs 35.5 crores and is yet to commence its business. The acquisition was done on a cash basis for a consideration of Rs 2.5 crores.

The company has posted 7.3% growth in revenues in FY16 and has shown a recovery in net losses from Rs 3.87 crore in FY15 to Rs 1.3 crore in FY16. Royal Orchids deals in accommodation and food service activities comprising hotels, resorts and restaurants and also mobile food services. Company’s brands include Royal Orchid Central, Royal Orchid Suites and Regenta with 30 business and leisure hotels.
Royal Orchid Hotels Ltd is currently trading at Rs 82.4, up by Rs 6.4 or 8.42% from its previous closing of Rs 76 on the BSE. The scrip opened at Rs 75.2 and has touched a high and low of Rs 86.4 and Rs 75.2 respectively. So far 359937(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 206.95 crore.

The BSE group 'B' stock of face value Rs 10 has touched a 52 week high of Rs 115.1 on 11-Jan-2016 and a 52 week low of Rs 56.6 on 17-Feb-2016. Last one week high and low of the scrip stood at Rs 78.5 and Rs 74.05 respectively.

The promoters holding in the company stood at 70.79 % while Institutions and Non-Institutions held 0.06 % and 29.15 % respectively. The stock is currently trading above its 200 DMA.

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