A thin volume of 125 shares was traded on the BSE.

The stock has recovered over the past few days. From a low of Rs 125.35 on 21 July, it has risen 40.40% to Rs 176 today.

Earlier, the stock had declined sharply from mid-May 2006. From Rs 191.75 on 11 May, it had tumbled to Rs 99.90 by 9 June 2006. After a recovery in June 2006, the stock moved in a range during July 2006.

Royal Orchid Hotels’ group company Royal Orchid Group has entered into a joint venture with Jungle Lodges & Resorts, Government of Karnataka, to manage the Krishna Raja Sagar (KRS) Hotel in Mysore, which has now been re-christened Royal Orchid Brindavan. The property has been leased out to Royal Orchid Group.

Spread across 1.5 acres and located around 15 km from the city, Royal Orchid Brindavan will also have a spa, conference room, health club and swimming pool among other facilities. The hotel, which remained closed for seven years, is currently being restored and renovated by the Royal Orchid Group, operations of which are scheduled to start shortly.

The company plans to add five hotels with 385 rooms in the current fiscal. The group currently operates five properties in Bangalore and Mysore with a room strength of 450. The company is keen on extending its footprint across the country.

The company has also struck a joint venture alliance with a partner in Delhi to open a five-star property.

Last month, Royal Orchid Hotels had planned to invest Rs 500 crore over the next two years on a major expansion plan that includes setting up five-star and four-star hotels in major cities in the country. It will also enter tier-III cities with budget hotels. The cities to be immediate targets are Delhi, Mumbai, Chennai, Bangalore, Kolkata, Pune, Jaipur and Hyderabad.

The company, in April, acquired 51% stake in Maruti Comforts and Inn, Bangalore, for Rs 5.88 crore. Maruti Comforts and Inn owns a luxurious resort in Bangalore.

Royal Orchid Hotels recorded 95.7% surge in net profit for Q1 June 2006, to Rs 8.10 crore (Rs 4.14 crore). Revenue rose 70.9%, to Rs 18.92 crore (Rs 11.07 crore).