Net Sales are expected to increase by 299.8 percent Y-o-Y (up 19.4 percent Q-o-Q) to Rs. 317.1 crore, according to ICICI Direct.

Net Sales are expected to increase by 57.6 percent Y-o-Y (down 5.8 percent Q-o-Q) to Rs. 296.1 crore, according to ICICI Direct.

Reliance Retail Ventures announced the acquisition of a majority 89 per cent equity stake in Clovia, an industry leader in the bridge-to-premium intimate wear category, with an investment of Rs 950 crore.

On Monday, shares of Asian Hotels (North) and Royal Orchid Hotels rallied 20 per cent each to Rs 99.9 and Rs 98.40, respectively. EIH Associated Hotels and Advani Hotels and Resorts gained 16 per cent each to Rs 385.55 and Rs 84.50, respectively.

Among hotel counters, EIH Associated Hotels hit its upper circuit limit of 20 per cent to Rs 373.65. HLV soared 18 per cent to Rs 10.65. EIH Hotels, Oriental Hotels, Royal Orchid Hotels and Taj GVK Hotels gained between 6 and 9 per cent.

The company had posted a consolidated net profit of Rs 19.92 crore in the same quarter previous fiscal, EIH Hotels said in a regulatory filing.

The key support level for the Nifty is placed at 10,353.63, followed by 10,236.27. If the index moves up, the key resistance levels to watch out for are 10,536.53 and 10,602.07.

The Council approved a cut in tax rates on rooms with a tariff of Rs 7,500 and above to 18 percent and those with tariff below Rs 7,500 to 12 percent. GST on room tariff below Rs 1,000 has been scrapped.

Hotel stocks rallied up to 12 percent intraday on Wednesday after GST rate fitment committee proposed to cut tax from 28 percent to 18 percent on hotel tariff of Rs 7,500 and above.