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KAMAT Hotels is proving to be a big favourite of investors in the hospitality sector. The stock has been on an upswing and touched its 52-week high of Rs 129 on Wednesday.

Dealers said that several brokerages have recommended the stock to their investors that has led the interest in the stock.

Speculation about the hotel chain's business expansion plans has also added to the optimism in the counter, according to dealers.

The company owns the Orchid Hotel in Mumbai and the chain of Lotus Suites. Indications are that the chain will expand into other cities. The rise in the stock is also attributed to the unlocking of the real estate value. The hotels are located in prime localities of the city.

The stock has appreciated by over 67 per cent in the last month. It closed at Rs 121.45 on Wednesday.

Growth hopes trigger gains

HEAVY equipment players ABG Heavy Industries and Gammon India are witnessing renewed buying interest in the bourses. Gammon India gained Rs 24.35 or 7.72 per cent on Wednesday to close at Rs 339.65. Over 5.18 lakh shares were traded on the BSE.

Dealers say the counter is rife with speculation that the company might be receiving some more road projects on the build, operate, transfer model.

ABG Heavy Industries closed at its 52-week high level of Rs 186.60. Dealers said buying interest in the stock continued to be high even at this level. The stock has appreciated by over 45 per cent in the last month.

The company has 76 per cent stake in Cardinal Logistics Private Ltd. Cardinal's contract with Kolkata Port Trust is expected to yield higher profits for ABG Heavy Industries, dealers say.

They say that with cement stocks pausing for a breather, these stocks are making the most of the construction boom. Analysts have pegged robust growth in the top line and bottom line of these companies, adding to the bullishness in the stocks.

Veena Venugopal

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