September 3, 2018 / 6:49 AM / 23 days ago

BUZZ-India's Leelaventure surges on report of Brookfield stake deal

** Shares of Hotel Leelaventure Ltd soar as much as 12.8 pct to 18.50 rupees, highest since June 21

** Canada's Brookfield Asset Management is in talks with lender JM Financial Asset Reconstruction Co for acquiring stake in debt-ridden Leelaventure, the Economic Times reports here

** Size of potential deal was not known

** Leelaventure, JM Financial ARC and Brookfield were not immediately available for comment

** >730k shares traded, ~4.4x the 30-day avg

** Co has a price/book value of 1.44 vs the sector avg of 4.62

** Stock had shed 21.15 pct this year, while rival Taj GVK Hotels and Resorts Ltd gained 12 pct

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below