Reuters Market Eye - Hotel Leelaventure(HTLE.NS) shares rise 9 percent, a day after the company sold its IT park building in the city of Chennai for 1.7 billion rupees to Reliance Industries, according to an exchange filing.
Traders say the hotel operator will be able to reduce debt, a critical factor given higher interest costs led Hotel Leelaventure to post a net loss of 970 million rupees in the October-December quarter, despite what analysts called a better-than-expected top line performance.
(Reporting by Manoj Dharra)
Trending On Reuters
The Reserve Bank of India (RBI) kept its key lending rate unchanged on Tuesday, leaving the door open for more easing but making that dependent on meeting a challenging inflation target for 2017. Full Article