New Mauritius Hotels dropped to its lowest in nine months

12 years, 9 months ago - July 19, 2011

New Mauritius Hotels Ltd. (NMH), the country’s largest leisure operator by market value, dropped to its lowest in nine months on speculation the European debt crisis will affect tourism and the company’s revenue.

The stock retreated for a third day, falling 0.5 rupees, or 0.5 percent, to 99.50 rupees a share, the lowest intraday level since Sept. 28, according to data compiled by Bloomberg.

“NMH fell below the psychological level of 100 rupees, driven by the debt concerns in Europe, its main tourist market, which might impact on the group’s revenue in the short term,” Kishen Nadassen, a senior research analyst at the Port Louis- based Cim Stockbrokers Ltd., said by phone today from the city.

Text by Bloomberg

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