The penny stock is set to resume trading in the NSE and BSE by April 3, 2024. Promotor holdings have increased 81.6 percent since last quarter.
Viceroy Hotels Ltd, a company trading on both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE), is poised to resume to trading on April 3, 2024, marking a significant milestone in its corporate journey. With recent developments, including the successful completion of its Corporate Insolvency Resolution Process (CIRP) and strategic acquisitions, Viceroy Hotels is positioned for robust growth in the hospitality sector.
The penny stock is set to resume trading in the NSE and BSE by April 3, 2024.
Corporate Restructuring and Resolution Process
The recently concluded Corporate Insolvency Resolution Process (CIRP) is a significant event to Viceroy Hotels. Anirudh Agro Farms Limited (AAFL) came out as the winning Resolution Applicant. This was confirmed with an order of NCLAT Chennai Bench on October 6th 2023. In the following days, Viceroy Hotels, in an announcement on the 6th of January, 2024 declared that they had fulfilled the obligations set out in the Resolution Plan by Loko Hospitality Private Limited which is an affiliate to Anirudh Agro Farms Limited.
Property Portfolio and Strategic Assets
Viceroy Hotels Limited boasts ownership of two hotels that are renowned, Marriott and Courtyard by Marriott with a strategic location on the 4.5-acre freehold property located on Tank Bund in Hyderabad. The properties, which are augmented by their prime position adjacent to the newly constructed secretariat have an operational total of 409 rooms. There is the potential for expansion that could add as many as 493 rooms. Additionally, the addition that one of downtown’s biggest convention centres adds to the appeal of the property. It has a long and rich history which dates to its beginnings prior to the Marriott control takeover.
Industry Outlook and Growth Potential
The hospitality sector has experienced an incredible resurgence in the last two years, driven by a rebound in tourism and business travel in after the outbreak of Covid-19 epidemic. Particularly, Average Room Rates (ARRs) as well as occupancy rates have risen to record numbers, indicating a positive direction for the revenue-generating potential. The industry analysts predict this growth to continue for the next few years and demand outpacing increase in supply.
Management Vision and Strategic Initiatives
The company is led by K. Ravinder Reddy, the Managing Director at Viceroy Hotels, the company has a vision of bold growth and value-creation. In expressing optimism over the booming tourism industry, Reddy emphasizes strategic acquisitions of hotels that are distressed in order to increase the reach of the company throughout the United States. While keeping an eye at the changing market conditions and the growing demand for domestic travel Viceroy Hotels anticipates substantial growth in the area of Average Room Rates (ARRs) as well as overall revenues.
“The company is looking to expand its assets across the country with strategic acquisitions of distressed hotel assets. We are excited about the hotel landscape, given the strong demand and increase in domestic travel we expect the industry and our ARRs to grow significantly,” added K. Ravinder Reddy MD of Viceroy Hotels.
The stock’s final trading day was on October 19 2023. Viceroy Hotels Ltd’s shares Viceroy Hotels Ltd traded at 3.60 rupees. 3.60 which was up 4.35 percent over its closing price. Viceroy Hotels Ltd is the first Micro-cap company that has the market capitalization of 15.3 crore.
Since its 52-week low of 1.52 This penny stock has delivered multiple bagger yields up to 141 percent as of September 19 2023.
Investors should be on the lookout for the micro-cap stock once it returns to trading on April 3rd, 2024.
Investment Implications and Conclusion
Viceroy Hotels Ltd represents a excellent investment opportunity in the micro-cap sector, given the company set to return to trading on April 3rd, 2024. The stock has had multibagger gains, which highlights its capacity for capital appreciation. Investors looking to invest in the growing industry of hospitality could think about Viceroy Hotels as a promising option to add to their portfolio.
By providing comprehensive insights into Viceroy Hotels Ltd’s resumption of trading and growth prospects, this article aims to position itself as a leading resource for investors seeking valuable analysis and actionable investment opportunities.
Disclaimer: The information provided in this article is for informational purposes only and should not be construed as investment advice. Readers are encouraged to conduct thorough research and consult with financial advisors before making investment decisions.
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