Sayaji Hotels jumps on entering into Hotel Management Agreement with Ranjangaon Hotel LLP
Sayaji Hotels is currently trading at Rs. 286.80, up by 5.70 points or 2.03% from its previous closing of Rs. 281.10 on the BSE.
The scrip opened at Rs. 291.00 and has touched a high and low of Rs. 291.85 and Rs. 286.80 respectively. So far 902 shares were traded on the counter.
The BSE group 'X' stock of face value Rs. 10 has touched a 52 week high of Rs. 385.00 on 10-Jan-2025 and a 52 week low of Rs. 240.00 on 19-Feb-2025.
Last one week high and low of the scrip stood at Rs. 298.20 and Rs. 281.10 respectively. The current market cap of the company is Rs. 502.42 crore.
The promoters holding in the company stood at 65.84%, while Institutions and Non-Institutions held 0.02% and 34.14% respectively.
Sayaji Hotels has entered into the Hotel Management Agreement with the Ranjangaon Hotel LLP for the purpose of providing operational services and managing properties in line with the brand standards of the company.
Sayaji Hotels will Manage and Operate the 4-star rated Hotel owned by Ranjangaon Hotel LLP located at Rajnangaon, Ganpati, Pune. The Hotel property will consist of 50 Hotel Rooms, 1 Banquet Hall, 2 Restaurants, Gym, SPA. The Brand Name to be used will be ‘Effotel By Sayaji’. The agreement is for 15 years from the date of commercial commencement of hotel. After which the agreement may be renewed on mutually agreed terms for each renewal period of 5 years.
Sayaji Hotels is primarily engaged in the business of owning, operating & managing hotels.
