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Technical analyst Jatinder Sharma has maintained 'buy' rating on Hotel Leela Ventures Limited stock with a target of Rs 41-42.
The analyst added that the interested investors can buy the stock at Rs 38-38.50 with a stop loss of Rs 37.
On September 05, the stock of the company closed at Rs 38.65 on the Bombay Stock Exchange (BSE).
The share price has seen a 52-week high of Rs 58.25 and a low of Rs 35.50 on BSE.
Current EPS & P/E ratio stood at 0.06 and 678.69 respectively.
Hotel Leelaventure Limited has inked a MoU with Travancore Enterprises Private Ltd, a firm possessed by Dr. B. Ravindran Pillai for transferring its Kovalam Hotel undertaking.
The firm proposes to hive off its Kovalam Hotel undertaking to an arm, which will issue company's shares.
In addition, Hotel Leelaventure Limited has declared its financial outcomes for the three month period ended on 30 June 2011 with the total income at Rs 124.72 crores as compared to Rs 109.23 crores in the same period of the last fiscal, depicting an increase of 14%.
But, the company has suffered a loss of Rs 26.49 crores for the three month period under review as against PAT of Rs 9.24 crores in the same quarterly period of the previous year, primarily because of the impact of interest and depreciation owing to opening of The Leela Palace New Delhi.