Wednesday, April 2, 2008

Royal Orchid Hotels gains on acquisition

Royal Orchid Hotels rose 0.48% to Rs 94.30 at 15:04 IST on BSE after company acquired 50% stake in Goan realtor Cosmos Premises.

The stock hit a high of Rs 96 and a low of Rs 93 so far during the day. The stock had a 52-week high of Rs 225 on 11 June 2007 and a 52-week low of Rs 88 on 24 March 2008.

The company’s current equity is Rs 27.23 crore. Face value per share is Rs 10.

The current price of Rs 94.30 discounts its Q3 December 2007 annualized EPS of Rs 11.59, by a PE multiple of 8.13.

Royal Orchid Hotels’ net profit declined 7.3% to Rs 7.89 crore on 6.8% growth in net sales to Rs 21.61 crore in Q3 December 2007 over Q3 December 2006.

Cosmos Premises is owner of the property The Galaxy Resorts having 65 room beach resorts, situated in village Utorda in the state of Goa.

The company's principal activity is operation of hotels in India.

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