Dolly Khanna picks stake in this hotel sector stock, shares hit record high; check details

Shares of Savera Industries Ltd hit a record high in the afternoon session today after ace investor Dolly Khanna's name appeared as a shareholder at the end of the December 2023 quarter. According to the BSE shareholding pattern data, Khanna held 1.2% stake or 1,44,828 shares in the firm at the end of last quarter.

Her name did not appear in the September 2023 quarter shareholding data.

Boosted by the disclosure, Savera Industries shares scaled an all-time high, rising 15.37% to Rs 153.85 on BSE today.

Earlier, Savera Industries stock opened lower at Rs 129.30 against the previous close of Rs 133.35 on BSE. Market cap of the firm rose to Rs 175.22 crore. Total 2.33 lakh shares changed hands amounting to a turnover of Rs 3.41 crore on BSE.

Savera Industries stock has a one-year beta of 0.7, indicating very low volatility during the period.

In terms of technicals, the relative strength index (RSI) of Savera Industries stands at 54.3, signaling it's trading neither in the overbought nor in the oversold zone. Savera Industries shares are trading higher than the 5 day, 10 day, 20 day, 50 day, 100 day and 200 day averages.

Savera Industries reported a revenue of Rs 18.8 crore for the quarter ended September 2023 against a net profit of Rs 15.4 crore in September 2022 quarter. Savera Industries profit in Q2 came at Rs 3 crore in Q2 against Rs 5.3 crore in the corresponding period of the preceding fiscal.

Profit before tax fell to Rs 3.9 crore in the second quarter of this fiscal over Rs 6.3 crore in the corresponding period of the previous fiscal. Earnings per share of Savera Industries fell to Rs 2.5 in Q2 of this fiscal against Rs 4.4 in the September 2022 quarter. EBITDA margins shrinked to 22.33% in Q2 against 26.91% in the September 2022 quarter.

Savera Industries operates a hotel in Chennai. The hotel includes facilities for business conferences and banquets, a swimming pool, health club, and restaurants.

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