Hotel Leelaventure Ltd (HTLE.NS)
24 May 2013
|Market Cap (Mil.):||Rs8,331.16|
|Shares Outstanding (Mil.):||418.65|
Hotel Leelaventure Ltd, which owns and operates The Leela Hotels brand, has sold its Chennai IT park building to Reliance Industries for $31.24 million ( Rs 170 crore) as it pushes ahead with its corporate debt restructuring plan.
* Hotel Leelaventure Ltd shares rise 9 percent, a day after the company sold its IT park building in the city of Chennai for 1.7 billion rupees ($31.38 million) 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.