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EIH shares fall by seven percent

By SiliconIndia   |   Tuesday, August 31, 2010
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Bangalore: East India Hotels (EIH) stock was among the top losers after its price had fallen by seven percent. After opening the day at Rs.180.80, the stock touched its day's low of Rs.137, before closing trade at Rs.150.70, with a loss of 7.13 percent. Through the day, 9130305 shares of EIH were traded in the market with the P/E ratio of 245.53. The 52 week stock price chart is on the left. East India Hotels (EIH) is an India-based company. Hotels owned and managed by EIH are The Oberoi, Mumbai; The Oberoi Udaivilas, Udaipur; The Oberoi, New Delhi; The Oberoi, Bangalore; The Oberoi Grand, Kolkata; The Oberoi Vanyavilas, Ranthambhore; Trident, Nariman Point, Mumbai, and Trident, Bandra Kurla, Mumbai. The company's subsidiaries include Mercury Car Rentals Limited, Mashobrs Resort, Oberoi Kerala Hotels and Resorts, Mumtaz Hotels, EIH International, EIH Flight Services, Mauritius and EIH Flight Catering Services. On an average gross fixed asset base of Rs.19.2 billion in end FY10 (average of the gross block of FY09 and FY10, and excluding the revaluation reserves), the company was able to rustle up a gross turnover of only Rs.8.8 billion. Out of four analysts following the stock, two analysts are recommending to sell the stock. The consensus recommendation is that the stock will underperform.
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