Small-cap stock: Apeejay Surrendra Park Hotels share price jumps 7% despite weak trends on Dalal Street. Here's why
Small-cap stock: Apeejay Surrendra Park Hotels share price jumped almost 7 per cent in intraday trade on the BSE on Thursday, April 24, defying weakness on the Dalal Street. Apeejay Surrendra Park Hotels share price opened at ₹ 154.55 against its previous close of ₹ 154.50 and rose 6.8 per cent to an intraday high of ₹ 165. Around 12:15 PM, the small-cap stock traded 6.54 per cent higher at ₹ 164.60. Equity benchmark Sensex was 0.32 per cent down at 79,859 at that time.
Apeejay Surrendra Park Hotels share price recently hit a 52-week low of ₹ 128.75 on April 7 this year, after hitting a 52-week high of ₹ 208.40 on January 3.
The small-cap stock witnessed healthy buying interest today after it announced it was set to acquire 90 per cent stake of Zillion Hotels and Resorts Private Limited for ₹ 209.25 crore.
"Apeejay Surrendra Park Hotels Limited has entered into a binding memorandum of understanding (MOU) today for the acquisition of 90 per cent stake of Zillion Hotels and Resorts Private Limited from its existing shareholders (namely Handa Family Shareholders and Nair Family Shareholders)," the company said in an exchange filing on April 24.
After the acquisition, Zillion Hotels and Resorts Private Limited will become a subsidiary of the company. Zillion Hotels owns and operates the 'Z Luxury Residences', including 62 service residences and food and beverage facilities at 29/1 J R Mhatre Road, opposite Iris Park, Juhu, Mumbai.
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Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions, as market conditions can change rapidly, and circumstances may vary.
First Published: 24 Apr 2025, 12:11 PM IST
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