Eco Hotels and Resorts Limited Shares Surge 5% on Maharashtra Hotel Deal
Microcap stock Eco Hotels and Resorts Limited jumped 5% after signing a deal to open a hotel in Maharashtra. Get the latest news and updates on the company's stock performance and financials.
Eco Hotels And Resorts LimitedMaharashtraHotel DealMicrocap StockStock PerformanceReal Estate MaharashtraAug 09, 2024
At 11 17 a.m., the shares of Eco Hotels and Resorts Limited were trading in the green at Rs. 41.4, up by 4.5 percent, compared to its previous closing price of Rs. 39.61, with a market cap of Rs. 213.3 crores.
According to the latest regulatory filings with the BSE, Eco Hotels and Resorts Limited signed a deal to open a 94-room hotel in Sindhudurg, Maharashtra.
Before this, the company's Board approved signing a deal to open a 63-room hotel in Kota, Rajasthan, on 23rd May.
On February 10th, the Board of Eco Hotels and Resorts Limited approved the proposal for the acquisition of 100 percent shares of Vitizen Hotels Limited (VHL) along with approving the signing of a Memorandum of Understanding (MOU) with the shareholders of VHL.
This acquisition encompassed all properties managed by Vitizen Hotels, which includes a total of 1,075 operational rooms.
The company experienced a fall in its revenue from operations, showing a year-on-year decline of 50 percent from Rs. 0.06 crores in Q1 FY23-24 to Rs. 0.03 crores in Q1 FY24-25.
Similarly, its net loss increased during the same period from Rs. 0.4 crore to a loss of Rs. 1.09 crores.
The stock has delivered positive returns of nearly 18.5 percent in one year as well as around 11.4 percent returns in the last six months. So far in 2024, the shares of Eco Hotels and Resorts have given about 93 percent of positive returns.
As per the shareholding pattern of June 2024, the Promoters hold a 38.08 percent stake in the company, while Retail Investors hold a 61.92 percent stake in Eco Hotels and Resorts.
About Eco Hotels and Resorts Limited
Eco Hotels and Resorts Limited, formerly known as Sharad Fibres And Yarn Processors Limited, is engaged in the business of building hotels, management and operations of hotels, and services which are allied services in the hospitality business such as food and beverages, ticket booking, car rentals, tours, and more.
Information
Eco Hotels and Resorts Limited is a microcap company listed on the BSE.Eco Hotels and Resorts Limited is a leading player in the hospitality industry, with a focus on building and managing hotels across India.
Frequently Asked Questions
What is the name of the company that signed a deal to open a hotel in Maharashtra?
Eco Hotels and Resorts Limited
How many rooms will the new hotel in Sindhudurg, Maharashtra have?
94 rooms
What is the market cap of Eco Hotels and Resorts Limited?
Rs. 213.3 crores
What is the percentage return of the stock in the last six months?
11.4 percent
What is the percentage stake of Promoters in Eco Hotels and Resorts Limited?
38.08 percent
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