Wednesday 7 August 2013

EIH strengthens on plan to develop proposed Goa project as a joint venture

EIH is currently trading at Rs. 44.50, up by 0.40 points or 0.91% from its previous closing of Rs. 44.10 on the BSE.

The scrip opened at Rs. 44.50 and has touched a high and low of Rs. 45.15 and Rs. 43.30 respectively. So far 8975 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 84.75 on 08-Aug-2012 and a 52 week low of Rs. 44.00 on 06-Aug-2013.

Last one week high and low of the scrip stood at Rs. 47.95 and Rs. 44.00 respectively. The current market cap of the company is Rs. 2520.62 crore.

The promoters holding in the company stood at 35.23% while Institutions and Non-Institutions held 13.67% and 51.03% respectively.

EIH is planning to develop the proposed Goa project as a joint venture. It has received planning approval for the 55-acre beach front site at Goa and is awaiting environment clearance. The company is likely to open its Hyderabad property consisting of 326 keys in the next couple of week.

The company has reported a fall of 40.08% in its net profit at Rs 27.04 crore in Q4FY13 as compared to net profit of Rs 45.13 crore in the same quarter previous year. However, total income from operation of the company has increased by 6.43% to Rs 352.62 crore as compared to Rs 331.31 crore in corresponding quarter last year.

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