The Board of Directors at Sayaji Hotels Ltd has officially approved a substantial investment of Rs. 20 crores for the establishment of a budget hotel in Indore. This upcoming project will feature a mid-segment budget hotel consisting of 175 rooms. Expected to commence operations in 2010, the hotel will be developed and managed by "MALWA HOSPITALITY PVT LTD," a wholly owned subsidiary of the company.
In the financial realm, shares of Sayaji Hotels were observed trading at Rs. 81.45, experiencing a decline of Rs. 1.40, translating to a 1.69% drop. The stock's performance peaked with an intraday high of Rs. 86.95, while it also recorded a low of Rs. 81.45 throughout the trading session. Moreover, the overall traded quantity stood at 6,372 shares, significantly below the two-week average of 29,936 shares.