Shares of Samhi Hotels Ltd. rose on Friday after GTI Capital Alpha Pvt. sold 4.7% equity in the firm in multiple large trades.
Around 1 crore shares of the company changed hands in three large trades at Rs 187.1 per share on BSE. The price was at 1% discount from the stock's closing price on Thursday. Total transaction value of the deal stood at Rs 193.4 crore, according to data available on Cogencis.
The base offer size was 64 lakh shares. GTI Capital Alpha used the upsize option to offload 1.03 crore shares. As of March 2024, it had 6.24% stake in Samhi Hotels, according to data available with BSE.
Buyers were not immediately known. The offer opened on Thursday and closed on Friday. The expected settlement date is July 1.
Shares of Samhi Hotels Ltd. rose as much as 5.67%, the highest level since June 25, before paring gains to trade 2.69% higher at Rs 194.04 per share at 11:33 a.m. This was compared to 0.34% advance in the NSE Nifty 50.
The stock has risen 16.73% year-to-date, and 35.29% in 10 months. Total traded volume so far in the day stood at 30 times its 30-day average. The relative strength index was at 54.95.
All three analysts tracking the company maintained a 'buy' rating, according to Bloomberg data. The average 12-month analysts' consensus price target implies an upside of 46.6%.
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