Eih

Stocks of IndiGo owner InterGlobe Aviation rose 5.3 per cent, while hotel operators EIH and Lemon Tree jumped more than 5 per cent each.

The hospitality major had registered a net profit of Rs 9.24 crore for the corresponding period a year ago.

EIH's profit was impacted by an exceptional item loss of Rs 18 crore, which it booked on sale of property at Darjeeling, West Bengal.

The hospitality industry is in the midst of "turbulent changes" at present due to disruptions by new-age technology driven businesses such as Airbnb, Ola and Uber, according to EIH Executive Chairman PRS Oberoi.

Domestic refiners Indian Oil Corporation (IOC) and Mangalore Refinery and Petrochemicals Ltd (MRPL) have made a second tranche payment using Germany-based EIH bank to help clear past oil dues to Iran.

Hospitality major EIH, which runs hotels and resorts under brands Oberoi and Trident, on Thursday reported a 51.18 per cent decline in standalone net profit at Rs 23.39 crore for the March quarter due to higher expenses and an exceptional item loss.

Hospitality major EIH Ltd, which runs hotels and resorts under brands Oberoi and Trident, will close hotel Oberoi, New Delhi for two years for major renovations of the property.

Hospitality major EIH Ltd on Saturday reported an 8.57 per cent rise in standalone net profit at Rs 47.36 crore for the third quarter of the ongoing financial year.

Hotel stocks witnessed a spectacular rally on Wednesday, with big names such as Indian Hotels closing 11 per cent higher at Rs 104.10. EIH Associated Hotels gained 16 per cent to close at Rs 259.80, while Hotel Leela Venture advanced 12 per cent to Rs 22.20.

Sumeet Bagadia of Choice Broking expects Nifty to trade sideways unless 8,000 is taken out convincingly. Markets have support at 7,900 levels, but a clear direction is unlikely as long as the overhang of GST and rate hike in US stays, he added.

Hospitality major EIH Ltd, which runs hotels and resorts under Oberoi and Trident brands on Thursday reported a standalone net profit of Rs 10.86 crore for the second quarter ended September 30.

Hospitality major EIH Ltd, which runs hotels and resorts under Oberoi and Trident brands, on Tuesday reported an over three-fold rise in standalone net profit at Rs 19.86 crore for the fiscal first quarter that ended on June 30, 2015, mainly from sale of property in Darjeeling.

Hospitality major EIH Ltd, which runs hotels and resorts under Oberoi and Trident brands, on Wednesday reported a 6.33 per cent rise in standalone net profit at Rs 43.62 crore for the third quarter that ended on December 31, 2014.

Standalone total income of the company however rose to Rs 286.08 crore for the quarter under consideration as against Rs 266.45 crore for the same period year ago.

Mukherji said that capital investment that would be needed over the next 5-6 years might be met through internal accruals.

Stocks of IndiGo owner InterGlobe Aviation rose 5.3 per cent, while hotel operators EIH and Lemon Tree jumped more than 5 per cent each.

The hospitality major had registered a net profit of Rs 9.24 crore for the corresponding period a year ago.

EIH's profit was impacted by an exceptional item loss of Rs 18 crore, which it booked on sale of property at Darjeeling, West Bengal.

The hospitality industry is in the midst of "turbulent changes" at present due to disruptions by new-age technology driven businesses such as Airbnb, Ola and Uber, according to EIH Executive Chairman PRS Oberoi.

Domestic refiners Indian Oil Corporation (IOC) and Mangalore Refinery and Petrochemicals Ltd (MRPL) have made a second tranche payment using Germany-based EIH bank to help clear past oil dues to Iran.

Hospitality major EIH, which runs hotels and resorts under brands Oberoi and Trident, on Thursday reported a 51.18 per cent decline in standalone net profit at Rs 23.39 crore for the March quarter due to higher expenses and an exceptional item loss.

Hospitality major EIH Ltd, which runs hotels and resorts under brands Oberoi and Trident, will close hotel Oberoi, New Delhi for two years for major renovations of the property.

Hospitality major EIH Ltd on Saturday reported an 8.57 per cent rise in standalone net profit at Rs 47.36 crore for the third quarter of the ongoing financial year.

Hotel stocks witnessed a spectacular rally on Wednesday, with big names such as Indian Hotels closing 11 per cent higher at Rs 104.10. EIH Associated Hotels gained 16 per cent to close at Rs 259.80, while Hotel Leela Venture advanced 12 per cent to Rs 22.20.

Sumeet Bagadia of Choice Broking expects Nifty to trade sideways unless 8,000 is taken out convincingly. Markets have support at 7,900 levels, but a clear direction is unlikely as long as the overhang of GST and rate hike in US stays, he added.

Hospitality major EIH Ltd, which runs hotels and resorts under Oberoi and Trident brands on Thursday reported a standalone net profit of Rs 10.86 crore for the second quarter ended September 30.

Hospitality major EIH Ltd, which runs hotels and resorts under Oberoi and Trident brands, on Tuesday reported an over three-fold rise in standalone net profit at Rs 19.86 crore for the fiscal first quarter that ended on June 30, 2015, mainly from sale of property in Darjeeling.

Hospitality major EIH Ltd, which runs hotels and resorts under Oberoi and Trident brands, on Wednesday reported a 6.33 per cent rise in standalone net profit at Rs 43.62 crore for the third quarter that ended on December 31, 2014.

Standalone total income of the company however rose to Rs 286.08 crore for the quarter under consideration as against Rs 266.45 crore for the same period year ago.

Mukherji said that capital investment that would be needed over the next 5-6 years might be met through internal accruals.