The stock bounced back from the same support zone yesterday and recorded a 30-day gain of more than 7% on volume today and over 11% of its previous day’s trend. Notably, the share price has also recorded its highest gain in more than 100 days on average.
The stock has risen sharply in the past trading sessions. The stock also traded at a 52-week high of Rs.317.70 and a low of Rs.112.15. Its 14-day RSI stands at 60 and the share price breakout has given its investors more profit than expected.
And today, the price per share of the company rose by 10.63% to Rs.267.45. Experts also recommend buying the company’s shares as they say that the stock will continue to perform well in the coming weeks.
The company’s revenue is mostly derived from room charges (56%) and food and beverage (35%), hotel management and consulting services (6%) and other services (4%).
Royal Orchid Hotels Ltd is one of the fastest growing Hotel Hospitality brands. The company manages a portfolio of 3920+ guest rooms in 58 hotels and resorts in 38 cities across the country.
It was founded in 2001 by industry veteran Chander K Balji and has emerged as a renowned and trusted brand with growth plans to reach 100 hotels by 2022. The company plans to add 20 new hotels by 2023.
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