On April 24, Apeejay Surrendra Park Hotels made headlines as its share price surged nearly 7% during intraday trading on the BSE. In a surprising twist amid broader market weakness, this small-cap stock opened at ₹154.55, slightly above its previous close of ₹154.50. It quickly climbed to an impressive intraday high of ₹165, reflecting a growing investor interest. By around 12:15 PM, shares were trading at ₹164.60, representing a 6.54% increase, while the Sensex dipped by 0.32% to 79,859.
Recent Stock Performance
The recent trading activity comes on the heels of a challenging period for Apeejay Surrendra Park Hotels, which saw its share price hit a 52-week low of ₹128.75 on April 7. Just a few months earlier, on January 3, the stock reached a high of ₹208.40.
- 52-Week Low: ₹128.75 (April 7)
- 52-Week High: ₹208.40 (January 3)
What’s Driving the Surge?
Investors are buzzing about the increase in share price following the company’s announcement of a significant acquisition. Apeejay Surrendra Park Hotels revealed plans to acquire a 90% stake in Zillion Hotels and Resorts Private Limited for ₹209.25 crore.
In their official announcement, the company stated, "Apeejay Surrendra Park Hotels Limited has signed a binding memorandum of understanding (MOU) to acquire the stake from existing shareholders, including the Handa and Nair families." Following this acquisition, Zillion Hotels will become a subsidiary of Apeejay Surrendra Park Hotels.
Zillion Hotels operates the renowned Z Luxury Residences, which features 62 serviced residences and dining options located on J R Mhatre Road in Juhu, Mumbai.
New Ventures in Hospitality
In addition to the acquisition news, Apeejay Surrendra Park Hotels is making strides in hospitality with the recent launch of their new property, “Zone Connect by The Park,” situated in Jaisalmer, Rajasthan.
Vikas Ahluwalia, the General Manager and National Head of Zone by The Park Hotels, expressed enthusiasm about the new opening, saying, "Zone Connect by The Park in Jaisalmer pays homage to the area’s rich heritage, focusing on creating an engaging atmosphere for our guests." With over 203 keys already established in Rajasthan—including locations in Jaipur, Jodhpur, Phalodi, and Udaipur—this new hotel is positioned to offer yet another unique cultural experience.
Conclusion
The recent performance of Apeejay Surrendra Park Hotels highlights the dynamic nature of the small-cap stock sector. With strategic acquisitions and new hotel launches, the company is poised to navigate market fluctuations effectively. Investors will be keen to see how these developments impact future stock performance and overall market positioning. Stay updated on market trends and insights as they unfold.
