EIH shares rise beyond 11 percent

Bangalore: East India Hotels (EIH) stock was among the top gainers after its price went up by 11 percent. After opening the day at Rs.137.95, the stock touched its 52 week high of Rs.154, before closing trade at Rs.135.20, with a gain of 11.46 percent. Through the day, 2368735 shares of EIH were traded in the market with the P/E ratio of 264.39. 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. Other business units owned and managed by EIH include Motor Vessel Vrinda, Cochin (a luxury cruiser); Oberoi Airport Services, Mumbai, Delhi, Chennai, Kolkata, Cochin, Bangalore; Business Aircraft Charters and luxury car hire. 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 June 30, 2010, EIH International, the Company's wholly owned subsidiary, completed the acquisition of the 45.85 percent equity interest of Amex Investment. Out of four analysts following the stock, two analysts are recommending to sell the stock. The consensus recommendation is that the stock will underperform.