Indian Hotels dips 4%, EIH 6% on BSE1 min read . Updated: 01 Dec 2008, 12:09 PM IST
Indian Hotels dips 4%, EIH 6% on BSE
Mumbai: Tata group’s Indian Hotels dipped over 4%, while Oberoi Group flagship EIH Ltd fell nearly 6% in the early trade today as negative sentiments after the terror attacks in the financial capital continued to impact investors’ confidence.
Shares of Indian Hotels, the owners of the Taj chain of hotels, dipped to Rs38.50, its 52-week low level, after opening firm on the Bombay Stock Exchange.
EIH Ltd fell by 5.88% to Rs92 from its previous close on the BSE.
“Sentiments are negative for the entire tourism industry, including hotels, as the number of foreign tourist arrivals may take a hit. However, the impact on these scrips is only a short-term deviation," SMC Global Vice-President Rajesh Jain said.
The Taj and the Oberoi Hotels in Mumbai were among the main targets of terror attacks, in which nearly 200 people were killed.
However, shares of EIH Associated Hotels, which fell sharply last Friday, gained 9.15% to trade at an intra-day high of Rs63.80 today. They were later quoted at Rs63, up 7.78% on the BSE.