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Country Club jumps over 10% in two sessions

Capital Market |  Jun 29, 2017 10:15 AM IST

Country Club Hospitality & Holidays rose 1.38% to Rs 14 at 10:10 IST on BSE, extending yesterday's rise triggered by the company's board approving sale of assets for reducing debt of the firm.

Meanwhile, the S&P BSE Sensex was up 228.53 points, or 0.74% to 31,062.85.

On the BSE, 28,000 shares were traded in the counter so far, compared with average daily volumes of 89,925 shares in the past one quarter. The stock had hit a high of Rs 14.39 and a low of Rs 13.87 so far during the day. The stock hit a 52-week high of Rs 17.54 on 7 November 2016. The stock hit a 52-week low of Rs 11.68 on 28 March 2017.

The stock had outperformed the market over the past one month till 28 June 2017, rising 3.45% compared with 1.04% decline in the Sensex. The scrip had also outperformed the market in past one quarter, rising 13.94% as against Sensex's 4% rise. The scrip had also outperformed the market in past one year, rising 11.46% as against Sensex's 15.31% rise.

The small-cap company has equity capital of Rs 32.69 crore. Face value per share is Rs 2.

The board of Country Club Hospitality & Holidays approved to sell, liquidate, transfer or lease back off or dispose such assets of the company which add limited value to the operations and profitability of the company, for the purpose of reduction of debt of the company. The proposal is subject to the approval of shareholders through postal ballot.

The announcement was made after market hours on Tuesday, 27 June 2017. Shares of Country Club Hospitality & Holidays jumped 8.74% to Rs 13.81. The stock has risen 10.24% in two sessions from its close of Rs 12.70 on 27 June 2017.

Country Club Hospitality & Holidays reported net loss of Rs 2.24 crore in Q4 March 2017 as compared with net profit of Rs 0.91 crore in Q4 March 2016. Net sales fell 19.16% to Rs 66.56 crore in Q4 March 2017 over Q4 March 2016.

Country Club Hospitality & Holidays offers leisure hospitality membership services in India.

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