{"id":110052,"date":"2023-09-14T16:16:01","date_gmt":"2023-09-14T10:46:01","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=110052"},"modified":"2023-09-14T16:16:06","modified_gmt":"2023-09-14T10:46:06","slug":"hotel-stock-announces-buyback-of-shares-at-a-20-premium-check-the-record-date-here","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/hotel-stock-announces-buyback-of-shares-at-a-20-premium-check-the-record-date-here\/","title":{"rendered":"Hotel stock announces buyback of shares at a 20% premium; Check the record date here\u00a0"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-1948214014\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>Shares of a hotel company were in the green after it announced a buyback of its shares. Its shares settled at \u20b9 166.65 apiece on Thursday.&nbsp;<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-3525316735\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p>According to an exchange filing by <strong><a href=\"https:\/\/portal.tradebrains.in\/stock\/523023\/standalone?defaul=true\" target=\"_blank\" rel=\"noreferrer noopener\">Sinclairs Hotels<\/a><\/strong>, the company\u2019s shareholders have approved the proposal to buy back up to 15,20,000 equity shares of a face value of \u20b9 2.00 for an aggregate consideration amount not exceeding \u20b9 30.40 crores.\u00a0<\/p><p>These shares will be bought at \u20b9 200.00 apiece, indicating a premium of 20.81 percent as compared to its share price of \u20b9 165.55 each.The company has fixed Friday September 29, 2023, as the record date for determining the purpose of determining the names of shareholders who are eligible for buyback.&nbsp;<\/p><p>Sinclairs Hotels has 4-star properties in various locations in India including Burdwan, Darjeeling, Dooars, Kalimpong, Ooty, Port Blair, Siliguri and Gangtok.&nbsp;<\/p><div class=\"trade-content_5\" id=\"trade-2028726199\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>With a market capitalization of \u20b9 449 crores, Sinclairs Hotels is a micro-cap company. It has a low return on equity of 14.57 percent and an ideal debt-to-equity ratio of 0.08. Its shares were trading at a price-to-earnings ratio (P\/E) of 13.22, which is lower than the industry P\/E of 48.25, indicating that the stock might be overvalued as compared to its peers.&nbsp;<\/p><p>The company\u2019s promoters hold a 62.78 percent stake in it, while retail investors hold a 37.22 percent stake in it as per the latest shareholding pattern.&nbsp;<\/p><p>The company\u2019s net profit increased by 48 percent to \u20b9 8.48 crores in the June quarter of the current financial year (Q1FY24), compared to \u20b9 5.73 crores in the same period last year. Its revenue alo witnessed a marginal increase to 18.46 crores in the latest quarter, as compared to \u20b9 18.33 crores in the same quarter last year.&nbsp;<\/p><blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p><strong>Written by Simran Bafna&nbsp;<\/strong><\/p><\/blockquote><h4 class=\"wp-block-heading\" id=\"h-disclaimer\"><strong>Disclaimer<\/strong><\/h4><div class=\"wp-block-image\"><figure class=\"aligncenter size-medium\"><img decoding=\"async\" width=\"300\" height=\"300\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/02\/warning-disclaimer-300x300.png\" alt=\"\" class=\"wp-image-26306\"\/><\/figure><\/div><p><strong>The views and investment tips expressed by investment experts\/broking houses\/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.<\/strong><\/p><div class=\"trade-after-content\" id=\"trade-2252925766\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>Shares of a hotel company were in the green after it announced a buyback of its shares. Its shares settled at \u20b9 166.65 apiece on Thursday.&nbsp; According to an exchange filing by Sinclairs Hotels, the company\u2019s shareholders have approved the proposal to buy back up to 15,20,000 equity shares of a face value of \u20b9 [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":13731,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[31,1789],"tags":[12146,12147,12145,948,936],"class_list":["post-110052","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-trending-news","tag-sinclairs-hotels-latest-news","tag-sinclairs-hotels-share-buyback","tag-sinclairs-hotels-share-price","tag-stock-market","tag-stock-market-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Hotel stock announces buyback of shares at a 20% premium; Check the record date here\u00a0 - Trade Brains Features<\/title>\n<meta name=\"description\" content=\"Shares of a hotel company were in the green after it announced a buyback of its shares. 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