Praveg signs a new 5-Star hotel in Ahmedabad; details inside

Praveg Ltd is coming up with a luxury 5-star hotel in the world heritage city of Ahmedabad, Gujarat. The hotel will be located in the neighbourhood of Sindhu Bhawan Road. Reflecting the legendary hospitality of Gujarat, the hotel will feature 76 rooms with beautiful city views and plush amenities, like Infinity Pool, Open Sky Dining, Meditation Room specially designed for social functions, and a Swimming Pool, among many others. 

The hotel will offer exceptional amenities for social functions and destination wedding facilities like occasion-wise special arrangements, aesthetic Banquets that can host up to 1200 guests, Special Bridal Room and Honeymoon Suites with Jacuzzi. The hotel will be well-equipped with business event/conference amenities for up to 1000-1200 delegates.  

With a distinctive sense of place and unmatchable hospitality, Praveg’s new hotel will be the only pure vegetarian 5-star hotel in the city known to abide by traditions. 

Incorporated in 2016 after the merger of Praveg Communications Limited with Sword and Shield Pharma Limited; Praveg Communications (India) Limited is an advertising company with core competence in Exhibition and Event Management. The company is also engaged in providing services to the Hospitality sector, Publications and Real Estate marketing. The company has set up its branches nationally and internationally. 

On Thursday, the stock opened at Rs 499.50 and touched a high and low of Rs 499.50 and Rs 487, respectively.  

The BSE group ‘XT’ stock of face value of Rs 10 has touched a 52-week high and low of Rs 612 and Rs 137.95, respectively. 

Last week high and low of the scrip stood at Rs 508 and Rs 484, respectively. The current market cap of the company is Rs 1,018.91 crore. 

The promoters holding in the company stood at 57.56%, while Institutions and Non-Institutions held 3.82% and 38.62% respectively. 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet, and is subject to changes. Please consult an expert before making related decisions.