Small-cap stock soars on four bulk deals: Big things ahead?

Aniket Gogate
Small-cap stock soars on four bulk deals: Big things ahead?

Deep dive into the company's luxurious and strategic expansions

On November 2, 2023, Praveg Limited achieved a significant milestone as its shares reached a new 52-week high, trading at a value of Rs 615.00. This remarkable surge was accompanied by an extraordinary increase in trading volume, exceeding 18.02 times the typical levels. The company closed the trading day with a notable gain of 8.55 per cent, concluding at a price of Rs 608.35.

The substantial volume surge can be attributed to the execution of four substantial bulk deals on the same day, substantiating heightened investor interest and robust market activity in Praveg Limited's shares. Following are the details fetched from BSE website:

Screenshot-2023-11-03-000056

Praveg Limited's share price has skyrocketed by 160 per cent in the past year, transforming it into a multibagger stock for its investors.

Praveg's Luxurious Expansion

In a recent press release, Praveg Limited announced the inauguration of "Praveg’s Grand Eulogia" hotel on Sindhu Bhavan Road, Ahmedabad, on November 1, 2023. Furthermore, the commencement of operations at the White Rann Resort in Rannutsav Phase-2 Dhordo Kutch and Praveg’s Dholavira Resort in Dholavira, Gujarat, effective November 1 and November 2, 2023, respectively, underscores the company's commitment to expansion and the luxury hospitality sector.

Praveg Limited's Strategic Expansion

Under Chairman Mr. Vishnu Patel, Praveg Limited recently announced the opening of three luxurious properties in Gujarat, aiming for a strong 65-70 per cent average occupancy rate. The 5-star Grand Eulogia in Ahmedabad offers 76 rooms, an infinity pool, and caters to social gatherings, weddings, and events. Additionally, 30 premium cottages near Dholavira's UNESCO heritage site provide an immersive tourist experience. The reopening of the White Rann luxury resort and "Deluxe" status from the Ministry of Tourism further enhance Praveg's presence. With eight operational properties and ten more in development, the company's eco-responsible luxury resorts align with its cultural focus, ensuring high occupancy and strong returns on investment. The diversified Events division also plays a pivotal role.
 

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

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