TajGVK in the limelight

TajGVK Hotels & Resorts is a joint venture, formed through a Strategic Alliance, between the Indian Hotels Company Limited (IHCL) and the Hyderabad based GVK Group. It owns & operates three five star hotels in Hyderabad and one five star hotel each in the cities of Chennai and Chandigarh. Its new hotel, Taj Santacruz is due to open in Mumbai soon. TAJGVK currently has a total room base of over 1083.

The stock price is in the limelight today. The price is currently up over 5% at Rs.72 levels with an intra day high of Rs.74.10. Its 52-week high, hit in 2014, stands at Rs.128.

The stock has been lackluster for some time now as its performance had always been below par. Yesterday, it declared its Q1FY16 numbers after market hours and it came in as a pleasant surprise – albeit  a very small net profit it at Rs.8 lakh, it was a turnaround from a loss of Rs.3 crore in previous Q1. Net sales rose 15% at Rs.62 crore and the company said that stable geo-political in Hyderabad helped boost the topline.