MUMBAI: Shares of medium- and small-sized hotel chains gained in a weak market on Tuesday, as investors are betting on a rerating of the hospitality sector in general, following Reliance Industries’ foray into this space. On Monday, Reliance Industries bought a 14.12% stake in EIH for `184 per share, a 30% premium to the stock’s closing price on Friday. Ironically, the EIH stock was the biggest loser on Tuesday, falling over 7% to close at `139.95. But the...
Full Story: The Times of India
