Shares of Sayaji Hotels, engaged in operating in the hospitality sector, soared 5% on Monday after the company's wholly-owned subsidiary Sayaji Hotels Management (SHML) has signed seven management agreements to have new properties in Vizag- Andhra Pradesh, Bhuj-Gujrat ,Dehradun-Uttarakhand, Udaipur-Rajasthan, Jamnagar-Gujrat, Nashik-Maharashtra and Morbi-Gujrat.

This expansion will lead to an addition of 476 new rooms and an overall increase of 1,000 rooms into the portfolio by the next fiscal 2021-22. With this plan, SHML is aiming at strengthening as well as increasing its presence on PAN India basis and also looking forward for the areas of growth.

 Shares of Sayaji Hotels  are trading at Rs 256.10, up Rs 12.15, or 4.98%  at the Bombay Stock Exchange (BSE) on Monday at 12:08 p.m.

The scrip has touched an intra-day high of Rs 256.10 and low of Rs 245. The total volume of shares traded at the BSE is 2,100.In the earlier session, the shares climbed 4.99%, or Rs 11.6, at Rs 243.95.

Currently, the stock is trading down 11.08% from its 52-week high of Rs 288  and above 75.77% over the 52-week low of Rs 145.70.