Shares of Indian Hotels Company fell over 3 per cent on the Bombay Stock Exchange after media report suggested that the Supreme Court today allowed the New Delhi Municipal Corporation (NDMC) to e-auction Taj Mansingh Hotel, which is run by Tata Group firm.
Weighed down by the development, shares of the Tata Group company declined as much as 3.43 per cent to hit intra-day low of Rs 123.80 apiece on the Bombay Stock Exchange.
The scrip was currently trading at Rs 126.35 against previous close price of Rs 128.20. In a similar fashion, stocks of company were trading 1.21 per cent lower at Rs 126.40 apiece on the National Stock Exchange.
Meanwhile, the broader benchmark BSE Sensex was trading at 29,413.01, up 76.44 points or 0.26 per cent, at 13:05 hour.