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Asian Hotels (East) surges on getting nod to demerger Securities Trading Unit

Asian Hotels (East) is currently trading at Rs. 180.00, up by 2.55 points or 1.44% from its previous closing of Rs. 177.45 on the BSE.

The scrip opened at Rs. 179.75 and has touched a high and low of Rs. 180.00 and Rs. 179.75 respectively. So far 18 shares were traded on the counter.

The BSE group ‘B’ stock of face value Rs. 10 has touched a 52 week high of Rs. 285.00 on 03-Apr-2019 and a 52 week low of Rs. 146.00 on 05-Sep-2019.

Last one week high and low of the scrip stood at Rs. 187.95 and Rs. 171.00 respectively. The current market cap of the company is Rs. 207.50 crore.

The promoters holding in the company stood at 65.63%, while Institutions and Non-Institutions held 8.86% and 25.51% respectively.

Asian Hotels (East) has received approval to demerger the Securities Trading Unit of the Investment Division of the Company into its wholly owned subsidiary Robust Hotels, Chennai. The Board of Directors of the Company at its meeting held on November 14, 2019 has approved the same.

Asian Hotels (East) is into the business of hospitality industries & is managed by a professional Board of Directors consisting of eminent personalities & professionals.

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