New Mauritius Hotels Ltd. (NMH), the country’s biggest leisure operator by market value, declined to its lowest level in more than two months on bets of a weaker tourism season.
The stock retreated for a second day to its lowest intraday level since Dec. 5, down 2 percent to 74.50 rupees by 12:27 p.m. in Port Louis, the capital.
“Tourism arrivals in January dropped 3 percent, a second month of decline, which is a cause of concern for the industry right now,” Kishen Nadassen, senior research analyst at CIM Stockbrokers Ltd., said in a phone interview from Port Louis. “Expectations are negative” for the season starting April and continuing until September, Nadassen said.
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