Double Dhamaka! Record date for 1:1 bonus share & Rs 6/share dividend announced: High ROE & high ROCE multibagger hotel stock to keep under radar!

The stock gave multibagger returns of over 100 per cent from its 52-week low of Rs 418.55 per share.

EIH Associated Hotels Ltd is a joint venture between the Oberoi Family and the Rajan Raheja Group that owns and operates premium luxury hotels in India under the "Oberoi" and "Trident" brands. They have a portfolio of 8 hotels and 869 keys, and their hotels are known for being iconic, like "The Oberoi Cecil, Shimla" and "The Oberoi Rajvilas, Jaipur".

Interestingly, most of their bookings, about 78 per cent, are made online. Additionally, they prioritize sustainability by generating 30-70 per cent of power through solar energy at several of their hotels.

The Board of Directors of the company announced bonus shares in the ratio 1:1 i.e., 1 bonus equity share of Rs 10 each for every 1 fully paid-up existing equity shares of Rs 10 each held as on record date. Additionally, the Board announced final dividend of Rs 6 per share. The record date for bonus share and dividend has revised from Monday, July 29, 2024 to Tuesday, August 13, 2024.

The company has a market cap of Rs 2,697 crore and reported positive numbers in its Quarterly Results (Q4FY24) and annual results (FY24).On Friday, shares of EIH Associated Hotels Ltd plunged 0.49 per cent to Rs 885.20 per share from its previous closing of Rs 889.60 with an intraday high of Rs 896 and an intraday low of Rs 874. The stock gave multibagger returns of over 100 per cent from its 52-week low of Rs 418.55 per share and investors should keep an eye on this stock.

Disclaimer: The article is for informational purposes only and not investment advice. 

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