Based on the approval of the Board, Oriental Hotels Ltd has entered into an agreement with the licensor viz., Dodla International Ltd (DIL) on November 29, 2018 in respect of termination of the MoU between the Company and DIL. The MoU pertains to the licensing arrangement of the Hotel unit at Trivandrum.
The termination will be effective from April 01, 2019. Consequent to this the Hotel Operating Agreement between the Company and the Indian Hotels Company Ltd (IHCL) also will end effective from April 01, 2019.
Shares of ORIENTAL HOTELS LTD. was last trading in BSE at Rs.39.9 as compared to the previous close of Rs. 38.6. The total number of shares traded during the day was 39626 in over 283 trades.
The stock hit an intraday high of Rs. 41.6 and intraday low of 38.95. The net turnover during the day was Rs. 1595127.