Branch2 Intelligence
Advent Hotels Shares Jump Over 15% After Rs 504 Crore Stake Sale To Prestige Estates
Key takeaway
Prestige Estates buys stake in Advent Hotels for ₹504 crore, sending Advent shares up 15%+.
- Step 11st-order: Prestige Estates acquires stake in Advent Hotels for ₹504 crore.
- Step 22nd-order: Advent's share price jumps 15%+ as market prices in cash inflow and retained subsidiary value.
- Step 33rd-order: Rival hospitality firms with Mumbai commercial exposure may see re-rating as investors seek similar deals.
Source: IN:NDTV Profit
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