Lemon Tree Hotels gains on signing license agreement for hotel project in Rishikesh
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Lemon Tree Hotels is currently trading at Rs. 69.40, up by 1.05 points or 1.54% from its previous closing of Rs. 68.35 on the BSE.
The scrip opened at Rs. 69.95 and has touched a high and low of Rs. 70.65 and Rs. 68.30 respectively. So far 620254 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 71.15 on 29-Mar-2022 and a 52 week low of Rs. 27.50 on 22-Apr-2021.
Last one week high and low of the scrip stood at Rs. 71.15 and Rs. 54.80 respectively. The current market cap of the company is Rs. 5466.50 crore.
The promoters holding in the company stood at 25.88%, while Institutions and Non-Institutions held 36.28% and 37.84% respectively.
Lemon Tree Hotels has signed license agreement for 132 room hotel project at Rishikesh in Uttarakhand under the Company’s brand Aurika Hotels & Resorts -- Luxury by Lemon Tree Hotels. The hotel is expected to be operational by March, 2025. Carnation Hotels, a subsidiary and the hotel management arm of the Company will be operating and marketing this hotel.
Rishikesh is located in the foothills of the Himalayas, on the banks of the Ganges. It is well known as the Yoga Capital of the World and is in close proximity to Haridwar and Dehradun on either side. It is regarded as one of the holiest places for Hindus, a popular pilgrimage town and has evolved as a famous tourist destination over the years.
Lemon Tree Hotels is India’s largest hotel chain in the mid-priced hotel sector, and the third largest overall, on the basis of controlling interest in owned and leased rooms.
