Juniper Hotels stock zooms 10% for second consecutive day, Mcap crosses Rs 9,500 crore

Shares of Juniper Hotels Ltd gained in morning deals on February 29 after Norges Bank, on account of the Government Pension Fund Global, bought 21.7 lakh equity shares or 0.98 percent stake in the luxury hotel chain. The bulk deal was carried out at an average price of Rs 398.15 per share.

So far in the day, a total of 50 lakh shares of the company changed hands on BSE and NSE combined.

At 11:52 am, Juniper Hotels shares were trading 9 percent higher at Rs 437.95 on the NSE. The market capitalisation of the company surged to Rs 9,767.8 crore.

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Juniper Hotels is a luxury hotel development and ownership company that runs hotels under the “Hyatt” brand.

The company listed on February 28 at Rs 365 apiece on NSE, a premium of 1.33 percent over the issue price. The stock listed on a flat note at Rs 361.20 on BSE, a premium of 0.33 percent to the issue price. The stock ended 10.36 percent higher at Rs 397.30 on its debut.

Juniper Hotels’ IPO was open from February 21 to February 23. Shares were offered in the price band of Rs 342-360 apiece. The company raised a total of Rs 1,800 crore through the issue, which was entirely a fresh share sale of up to 5 crore equity shares.

The Mumbai-based luxury hotel development and ownership company holds a portfolio of seven hotels and serviced apartments with a total of 1,836 rooms. It operates the business under three distinct segments namely luxury (the Grand Hyatt Mumbai Hotel and Residences and Andaz Delhi), upper upscale (the Hyatt Delhi Residences, Hyatt Regency Ahmedabad, Hyatt Regency Lucknow and Hyatt Raipur), and upscale (Hyatt Place Hampi).

Also Read | Juniper Hotels outperforms benchmark indices, closes 11.5% higher on debut

Juniper Hotels recorded a net loss of Rs 26.5 crore for the months ended September FY24, widening from a loss of Rs 17.5 crore in the year-ago period. However, there has been growth in revenue from operations which increased to Rs 336.1 crore from Rs 294.3 crore during the same period.

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