Suave Hotels forms subsidiary to establish a chain of restaurants

Suave Hotels Ltd has announced that subject to approval from the shareholders, the Company has incorporated a subsidiary in the name and style of Svelte Restaurants Pvt Ltd to establish a chain of restaurants. To begin with the Company plans to set up 3 restaurants in Goa and then expand to other metros in the country.

The stock was trading at Rs.53.70, down by Rs.2.80 or 4.96%. The stock hit an intraday high of Rs.58.95 and low of Rs.53.70. The total traded quantity was 41637 compared to 2 week average of 158000.

Source : Equity Bulls

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