In the wake of weak Wall Street cues, the Indian benchmark market indices embarked on a rollercoaster ride today, defying expectations with a slightly negative start. However, what followed was a dramatic dance between gains and losses, keeping investors on the edge of their seats.
Today, all eyes are on the May derivative contracts, set to expire as the trading day unfolds. As the sun rises on this pivotal day, volatility takes center stage, making its presence felt in every market move. The Nifty, in particular, finds its immediate support at the 18,220 level, closely aligned with the 20-day moving average. Only a decisive breach below this threshold would signal a potential correction, inviting a serious reshuffling of the market’s dynamics. Until then, brace yourself for stock-specific actions.
Amidst this exhilarating market atmosphere, one stock has managed to captivate investors’ attention—Royal Orchid Hotels Ltd. Defying the odds and the market’s volatile tides, this stock soared nearly 4% during early trade on Thursday, leaving onlookers awe-struck.
The secret behind this remarkable surge lies in the unveiling of Royal Orchid & Regenta Hotels’ latest masterpiece—Regenta Place Phagwara. Nestled amidst the serene landscapes of the sacred and agriculturally rich lands, where the Beas and Satluj rivers weave their mystical tales, this gem of a hospitality haven has sent ripples of excitement through the investment community.
Chander K Baljee, Chairman and Managing Director of Royal Orchid Hotels, expressed his thoughts on the recent opening, stating, “Punjab holds significant importance for us, particularly as we expand our presence in Northern India. Recognized for its religious heritage, agricultural prominence and significant NRI community, this new property has been meticulously designed to meet the diverse needs of our esteemed guests. The expansion and inauguration of this hotel align perfectly with our vision of fortifying our foothold in India, particularly in pivotal domestic markets.”
The stock has been a rockstar performer as it has had exhilarating returns of over 800% in the last three years. Even in the last one-year, the stock has managed to give multibagger returns of 213%. The stock marked its fresh 52-week high on Thursday