India's Chalet Hotels rises on block deal

Chalet Hotels

17/08/2023 07:32

** Shares of Chalet Hotels  CHAL.NS  rise as much as 2.2% to
490.6 rupees
    ** Around 400,200 shares of luxury hotels operator changed
hands at a price of 483.40 rupees per share in a single block
deal as of 11:50 a.m. IST - Refinitiv
    ** CHAL on track to snap two sessions of losses if trends
hold
    ** Stock above its 50-, 100-, and 200-day exponential moving
avgs since June 27, indicating bullish trend
    ** Trading volume at ~486,700 shares, 2x the 30-day avg as
of 11:40 a.m. IST
    ** Average rating of nine analysts close to equivalent of
'buy'; median PT is 558 rupees - Refinitiv data
    ** Stock up ~40% so far this year

 (Reporting by Biplob Kumar Das in Bengaluru)
 ((Biplobkumar.das@thomsonreuters.com))