India's Omaxe Ltd surges after co launches hospitality arm
BUZZ-India's Omaxe Ltd surges after co launches hospitality arm ** Shares of Omaxe Ltd OMAX.NS up about 15% at 88.93 rupees, biggest one-day percentage rise since December 2025
** Stock's relative strength index at 73.32, indicating that stock has entered overbought territory
** The real estate developer launched dedicated hospitality business vertical with a proposal to invest about 62 billion rupees ($657.09 million) over the next 4-5 years
** Hospitality arm to develop 19 hotels spread across 5 states in the next 4-5 years, to be integrated with OMAX's existing ecosystem
** Hospitality business has the potential to generate about 10 bln rupees in annual revenue upon stabilization - Co
** YTD, stock down 0.66%
($1 = 94.3550 Indian rupees)
(Reporting by Saikeerthi in Bengaluru)
((Saikeerthi@thomsonreuters.com; (+91) 8296756080))
Recent news on Omaxe
See all newsOmaxe gains on MoU for 10 hotel projects across India
Brief: Omaxe Ltd Partners With Lemon Tree Hotels For 10 Hotels With 4,000 Keys Across India
Brief: Omaxe Says Unit To Sell 40% Stake In Aquarise Developers
Brief: Omaxe Receives Rera Registration For PDA Omaxe City Commercial Project In Patiala
India's Omaxe Ltd surges after co launches hospitality arm