This penny stock made you very rich in just 3 days! Did you happen to own any?
The performance given by the company is quite amazing, considering that, just three days ago, this company had clocked its all-time low!
In the midst of volatile Indian markets, there was one penny stock that caught the eye as it jumped heavily on three consecutive days! This was Hotel Leela Venture Limited, which has made its investors rich virtually overnight. The performance given by the company is quite amazing, considering that, just three days ago, this company had clocked its all-time low! And within the blink of an eye, it has soared over 77% since the start of this week's trading session. Yes! Hence the surprise!
Reason behind this jump became clear when it was revealed that Thailand's Minor International is seeking to buy a stake in Hotel Leela for $350 million! A clarification was sought by BSE, and a reply by Hotel Leela has been given, which somewhat hints that a talks are going on.
Today, at around 12:09 hours, Hotel Leela was trading at Rs 15.28, up by 19.94% on Sensex.
When asked about the Thailand's Minor news, Hotel Leela replied by saying, "The company and the lenders are evaluating various offers, so as to achieve maximization of value for all the stakeholders and there is no binding contract with any investor as on date either for investment in the company or for purchase of company's assets. We will notify the stock exchanges and when any binding agreement is finalised."
On Monday, the company jumped by a whopping 20% on Sensex, followed by another 19.96% rise on Tuesday.
The buying sentiment in past three days in Hotel Leela is surely surprising, as the company clocked its all-time low of Rs 8.61 on November 22.
If we take the all-time low, then Hotel Leela today has grown by a massive 77.46%. The investors who have invested in this company surely are sitting on pile of cash.
It was a news from Financial Express, which said, a consortium, including Thailand’s Minor International, is considering an investment of about $350 million in Indian hospitality firm Hotel Leel aventure, according to a person with knowledge of the matter.
Reportedly, it was known that, the proposed bid, which is also backed by investment firm Trinity White City Ventures, includes a mix of equity and debt, the person said. The consortium would end up with a majority stake in Mumbai-based Hotel Leela Venture if the transaction proceeds, the person said, asking not to be identified. There’s no certainty the deliberations will lead to an agreement.
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