EIH Associated Hotels shares rally 17% ahead of bonus shares issue plan
EIH Associated Hotels, the flagship company of The Oberoi Hotels, rallied 17% on BSE on Monday to its fresh 52-week high of Rs 845 as the company announced June 14 as the date for the board meeting to consider the issue of bonus shares.
«The meeting of the Board of Directors of the Company will be held on Friday, June 14, 2024, to consider and recommend, interalia, capitalization of reserves by issuing Bonus Shares to the Equity Shareholders of the Company, subject to the approval of the Shareholders,» said the company in a filing to the exchanges.
In the last one year, the shares of the company have increased by 61.3% while in the current calendar year, the stock has surged 73.5%.
In the last one month alone, the stock has gained over 10%.
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On charts, EIH Associated Hotels is performing above all its significant exponential moving averages while oscillating near the 48 level mark on the RSI, as per Trendlyne data.
EIH Associated Hotels is a part of The Oberoi Group, one of the largest and most eminent hospitality groups in India and Asia.
The group owns and manages 20 extraordinary hotels under the luxury Oberoi Hotels & Resorts brand and 10 five-star properties under the Trident Hotels brand and the company's services extend to flight catering, airport restaurants, travel and tours, car rentals, project management and corporate air charters.
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