India's Chalet Hotels surges on swinging to profit in Q4

Chalet Hotels

09/05/2023 09:52

** Shares of Chalet Hotels Ltd  CHAL.NS  rise as much as
4.5% after co swings to profit in Q4 vs loss a year ago
    ** Co's rev from ops more than doubles; also re-appoints
Sanjay Sethi as MD, CEO
    ** At day's high of 405.7 rupees, stock hits highest level
since Oct. 19, 2022
    ** About 740,000 shares change hands by 2:05 p.m. IST, ~3.3x
the 30-day avg - Refinitiv Data
    ** Six rate stock 'buy' or higher; median PT is 495.5
rupees, 27.6% above Monday's close
    ** Including session's rise, stock extends YTD gains to ~13%

 (Reporting by Priya Sagar in Bengaluru)
 ((Priya.Sagar@thomsonreuters.com))