19 Sep 2024

Praveg Rises After Receiving LoA from Gujarat Tourism Corporation

Praveg's stock is currently trading at Rs. 812.50, marking an increase of 5.35 points or 0.66% from its previous close of Rs. 807.15 on the BSE.

The stock opened at Rs. 810.15 and has reached a high of Rs. 830.00 and a low of Rs. 810.15 so far. A total of 4,439 shares have been traded so far.

This BSE group 'B' stock, with a face value of Rs. 10, reached a 52-week high of Rs. 1300.00 on January 10, 2024, and a 52-week low of Rs. 480.00 on September 20, 2023.

In the past week, the stock’s high was Rs. 865.00, while its low was Rs. 798.00. The company's current market capitalization stands at Rs. 2,084.52 crore.

The company's promoter holding stands at 45.97%, with institutional investors holding 13.89%, and non-institutional investors holding 40.13%.

Praveg has secured a Letter of Award (LoA) from the Tourism Corporation of Gujarat (TCGL), dated September 17, 2024, for managing the operation and maintenance of 30 Bhungas in Dhordo, Gujarat.

With the addition of these 30 Bhungas, Praveg has increased its accommodation capacity, adding to the 46 tents already available. This expansion is aimed at offering a wider range of stay options for guests, enhancing their overall experience.

Praveg, previously known as Praveg Communications (India), is involved in organizing events, exhibitions, advertising, hospitality, and also operates in the pharmaceutical sector.