Multibagger Stock: Net profit of this hotel company doubled, share jumped three percent – multibagger hotel stock reports a 100 percent jump in net profit soars over three percent in morning trade
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Despite the fall in the market, the share of Lemon Tree Hotels climbed up to 3.96 per cent. Also, its volume increased by 3.46 times. The current market cap of the company is Rs 7,880.48 crore. Technically, the 200-day moving average (DMA) of the company’s stock as on August 18 is Rs 85.78, while the 50-day DMA is Rs 93.14. Its current price is Rs 97.50. In the recent crossover, its 50-day average crossed the 200-day average. It is clear from this that this stock can go up significantly in the long term. The share price of Lemon Tree Hotels is less than Rs 100. In such a situation, investors have a good opportunity in the Hotels and Resorts sector. Those investors can be attracted towards it due to the cheapness of the stock.
The company released the first quarter results on August 10, 2023. During this period, the company’s revenue increased by 15.62 percent to Rs 222 crore. The operating profit of the company reached Rs 104 crore with a growth of 18.18 per cent. The net profit of the company also stood at Rs 28 crore with a growth of 100 per cent. That is, in the first quarter of this financial year, the company’s revenue and profit have increased significantly. There is heavy buying activity in this stock. It has gained more than 236 per cent in the last three years. Keep an eye on this trading stock in coming days.
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