Indian Hotels Extends Gain On Rating Upgrade

Posted By: Religare
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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 119.65BSE Quote4.3 (3.59%)
NSE 119.90NSE Quote4.05 (3.38%)
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.

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