Indian Hotels Extends Gain On Rating Upgrade

Shares of The Indian Hotels Company rose over 2 per cent on the Bombay Stock Exchange (BSE) after brokerage firm Morgan Stanley upgraded the stock to overweight from underweight, citing a comeback of pricing power for hoteliers.

Indian Hotels Extends Gain On Rating Upgrade
Indian Hotels Company: Quotes, News
BSE 127.55BSE Quote2.9 (2.27%)
NSE 128.20NSE Quote2.35 (1.83%)
Boosted by rating upgrade, shares of the company gained as much as 2.11 per cent in intra-day trade to Rs 133.00 a piece on Bombay Stock Exchange.

In a similar fashion, stocks of the company advanced 1.84 per cent to Rs 132.50 apiece on National Stock Exchange.

Meanwhile, the broader benchmark BSE Sensex was trading at 26,665.16, up 139.70 points, or 0.52 per cent, at 10:30 hours.

Read more about: indian hotels
Story first published: Friday, June 17, 2016, 12:50 [IST]
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