With the ongoing HMPV virus scare, airlines and hotel stocks crashed nearly 5 per cent on Monday following the government's release reporting two virus cases in India. In terms of hotel chains, TAJGVK Hotels & Resorts Limited, a joint venture between Indian Hotels Company Limited and the GVK Group, dipped 5.26 per cent to ₹421.85. Shares of Indian Hotels Company …
: Rating agency ICRA has downgraded TAJGVK Hotels & Resorts Limited long-term loans and short-term credit facilities. In a filing with stock exchanges on Monday, the ICRA downgraded TAJGVK Hotels long-term loans aggregating Rs 165.63 crore and short-term, fund-based limits. The companys earnings would be weak during Q2 FY 2021 and this trend is expected to continue over the next …
