Homebusiness Newscompanies News

    Chalet Hotels climbs on news of property near Terminal 3 of Delhi airport

    Chalet Hotels climbs on news of property near Terminal 3 of Delhi airport

    Chalet Hotels climbs on news of property near Terminal 3 of Delhi airport
    Read Time
    2 Min(s) Read
    Profile image

    By CNBCTV18.com  IST (Published)

    Mini

    The stock has given strong positive returns to investors. In six months, the stock has gained nearly 30 percent while in the year so far it has gained over 52 percent. In one year, the stock has given 88 percent returns to investors.

    wealth-desk wealth-desk

    Buy / Sell Chalet Hotels share

    Shares of Chalet Hotels (CHL) climbed over 4 percent in early morning trade and then slipped down on the BSE. At 1:49 pm, shares of the company were trading at Rs 332, a 0.04 percent up from the previous close on the BSE.
    The shares of Chalet Hotels spiked in early morning trade as they announced on Friday that the company and its wholly owned subsidiary, Chalet Airport Hotel (as a developer), had executed a license agreement with Delhi International Airport regarding the construction, financing, management, operation, and management of a terminal hotel opposite Terminal 3 at the IGI Airport, New Delhi (Project).
    This agreement bodes well for investors as it will allow the company to grow revenue at a time when the travel and tourism industries are recovering from the pandemic.
    This will allow CHL, which operates hotels such as JW Marriott Mumbai Sahar and Four Points by Sheraton Navi Mumbai, to enter the north Indian market.
    "We are excited about our entry into the NCR and north India as a part of our stated strategy. We look forward to working with DIAL and the best of the hotel brands to create a marquee asset in the airport district of New Delhi," said Sanjay Sethi, MD & CEO of Chalet Hotels Limited.
    The company reported a net profit of Rs 286 crore in the April-June quarter, marking the best first quarterly result delivered by the company, supported by a strong recovery in business travel.
    According to Chalet Hotels, only 56 percent of the foreign travel business was back on track in the quarter due to the global crisis and the Russia-Ukraine war.
    The stock has given strong positive returns to investors. In six months, the stock has gained nearly 30 percent while in the year so far, it has gained over 52 percent. In one year, the stock has given 88 percent returns to investors.
    Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
    arrow down

      Most Read

      Market Movers

      View All
      CompanyPriceChng%Chng