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Hotel Stocks Gain In Trade On September 9, 2021; Chalet Hotels Gain 10%
Indian markets are largely trading flat with a positive bias with banking pack slightly weak in trade after gains in the previous session. Broader markets too gained in line with a tad.
Sectorally, it was a mixed session, with some of the sectors including auto, FMCG, metal and PSU Bank in the green, while the defensive pack IT and pharma, together with private banking sector and realty sectors in the red.
Coming to the hotel stocks in particular, these stocks in early trade saw good buying. Some of the stocks including Chalet Hotels gained up to 10 percent to day's high price of Rs. 192.85, while others such as EIH, ITDC, Kamat Hotels, Lemon Tree rallied between 1-5%.
Nonetheless some of the counters also traded in the red including Asian Hotels, TGB Banquets, Mahindra Holiday etc.
Previously also in early August there was seen some traction in the hotel stocks as there came up guidelines which allowed hotels in the financial capital of the country to remain functional till late night hours.
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