{"id":134441,"date":"2024-09-25T15:32:52","date_gmt":"2024-09-25T10:02:52","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=134441"},"modified":"2024-09-25T15:35:34","modified_gmt":"2024-09-25T10:05:34","slug":"stock-jumps-15-after-porinju-veliyath-bought-stake-in-the-company","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/stock-jumps-15-after-porinju-veliyath-bought-stake-in-the-company\/","title":{"rendered":"Stock jumps 15% after Porinju Veliyath bought stake in the company\u00a0"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-1850128948\"><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>The shares of this hospitality stock jumped nearly 15 percent to Rs.2,224.85 per share after Ace Investor Porinju Veliyath bought a stake in the company through his investment fund Equity Intelligence India.&nbsp;<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-3658448786\"><!-- 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><h2 class=\"wp-block-heading has-medium-font-size\"><strong>Price Variation&nbsp;<\/strong><\/h2><p>In Wednesday&#8217;s trading session, <strong><a href=\"https:\/\/portal.tradebrains.in\/stock\/APOLSINHOT\/standalone\" target=\"_blank\" rel=\"noreferrer noopener\">Apollo Sindoori Hotels Limited<\/a><\/strong>&#8216;s share price reached an intra-day high of Rs.2,224.85 per share, marking a 15 percent increase from the opening price of Rs.2,220 apiece. Since then, the share price has adjusted and currently trading at Rs.2,035 per share.\u00a0<\/p><h2 class=\"wp-block-heading has-medium-font-size\"><strong>What is the news&nbsp;<\/strong><\/h2><p>The bullish trend in the stock was driven by Porinju Veliyath, who, through his firm Equity Intelligence India, purchased 27,000 shares at an average price of Rs.1,916.17 per share. The acquisition, valued at Rs.5.17 crore, represents a 1.04 percent stake in the company.&nbsp;<\/p><p>Veliyath&#8217;s acquisition is viewed as a bullish signal for Apollo Sindoori Hotels Ltd., likely boosting positive market sentiment around the stock. Investments by prominent investors often attract increased attention from other market participants, potentially leading to further stock price appreciation.&nbsp;<\/p><div class=\"trade-content_5\" id=\"trade-3663120814\"><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><blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p><strong>Also Read: <a href=\"https:\/\/tradebrains.in\/features\/it-stock-jumps-17-after-pm-narendra-modi-launches-its-software\/\" target=\"_blank\" rel=\"noreferrer noopener\">IT stock jumps 17% after PM Narendra Modi launches company\u2019s software<\/a><\/strong><\/p><\/blockquote><h2 class=\"wp-block-heading has-medium-font-size\"><strong>Shareholding Composition&nbsp;<\/strong><\/h2><p>As of June 2024, Apollo Sindoori Hotels Limited&#8217;s shareholding pattern indicates that promoters hold a 64.68 percent stake, Foreign Institutional Investors hold 0.1 percent, and Retail Investors hold 35.23 percent.&nbsp;<\/p><p>Porinju Veliyath, through his firm Equity Intelligence India, initially acquired a 0.58 percent stake in Apollo Sindoori Ltd in 2017 and has recently increased his investment.&nbsp;<\/p><h2 class=\"wp-block-heading has-medium-font-size\"><strong>Business Segments&nbsp;<\/strong><\/h2><p>Apollo Sindoori Hotels Limited is a leading provider of hospitality management and catering services in India. The company caters to a diverse range of sectors, including healthcare, education, and corporate offices, offering skilled manpower, kitchen planning, event management, and food services tailored to meet the specific needs of each client.&nbsp;<\/p><h2 class=\"wp-block-heading has-medium-font-size\"><strong>Financial Performance&nbsp;<\/strong><\/h2><p>In its latest financial update, Apollo Sindoori Hotels reported net sales of Rs.127.7 crores for Q1 FY25, reflecting a 5.5 percent increase from Rs.121.04 crores in Q1 FY24. However, the company&#8217;s net profits declined to Rs.1.49 crores, down from Rs.3.83 crores during the same period.&nbsp;<\/p><h2 class=\"wp-block-heading has-medium-font-size\"><strong>Company Overview&nbsp;<\/strong><\/h2><p>Apollo Sindoori Hotels Ltd is involved in managing food outlets at hospitals and esteemed organizations. The company also provides outdoor catering services and supplies skilled manpower to hospitals.<\/p><blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p><strong>Also Read: <a href=\"https:\/\/tradebrains.in\/features\/solar-energy-stock-jumps-3-after-receiving-order-worth-6-21-cr-for-solar-water-pumps\/\" target=\"_blank\" rel=\"noreferrer noopener\">Solar energy stock jumps 3% after receiving order worth \u20b9 6.21 Cr for solar water pumps<\/a><\/strong><\/p><\/blockquote><blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p><strong>Written by &#8211; Siddesh S Raskar\u00a0<\/strong><\/p><\/blockquote><h4 class=\"wp-block-heading has-medium-font-size\" 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 <a href=\"http:\/\/tradebrains.in\/\">tradebrains.in<\/a> 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-content-10\" id=\"trade-1199927741\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_3_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"2969612066\"\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><div class=\"trade-after-content\" id=\"trade-1069480728\"><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>The shares of this hospitality stock jumped nearly 15 percent to Rs.2,224.85 per share after Ace Investor Porinju Veliyath bought a stake in the company through his investment fund Equity Intelligence India.&nbsp; Price Variation&nbsp; In Wednesday&#8217;s trading session, Apollo Sindoori Hotels Limited&#8216;s share price reached an intra-day high of Rs.2,224.85 per share, marking a 15 [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":134442,"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":[22882,22883,15916,22881,948,936,2597],"class_list":["post-134441","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-trending-news","tag-apollo-sindoori-hotels","tag-apollo-sindoori-hotels-news","tag-apollo-sindoori-hotels-share-price","tag-porinju-veliyath-bought-stake","tag-stock-market","tag-stock-market-news","tag-stocks-to-watch"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - 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