Hotel stocks in focus; Indian, EIH, Chalet hit new highs, surge up to 7%
Growth in the industry is largely expected from domestic demand which is expected to remain strong through FY 2023-24
Shares hotel companies were on a roll on Wednesday, hitting their respective new highs and surging up to 7 per cent on the BSE in the intraday trade, on healthy business outlook.
Indian Hotels Company, Chalet Hotels, EIH, and Lemon Tree Hotels among the frontline stocks were trading higher in the range of 3 per cent to 7 per cent. In comparison, the S&P BSE Sensex was up 0.5 per cent at 65,401 at 01:43 PM.
Further, in the past six months, these stocks have rallied between 35 and 35 per cent as against 10.9 per cent gain in the benchmark index.
