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Rajesh Abraham

Shares of Viceroy Hotels Ltd rose by 3.5 per cent on Wednesday on market talk that the company may enter the retail business through a tie up with a Singapore-based bakery boutique chain, dealers said. They said the Hyderabad-based company would begin with 50 such boutiques in Mumbai, which will later be scaled up to 250 outlets. The company officials could not be contacted for confirmation. The stock has gained by 29 per cent over the last one-month period. The company has convened an EGM on April 10 to get shareholders' approval for a preferential share allotment to promoters and select investors at Rs 100 per share. On the BSE, the shares closed at Rs 118.

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