Lemon Tree Hotels gains on signing new hotel in Bhopal
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
Lemon Tree Hotels is currently trading at Rs. 74.50, up by 1.15 points or 1.57% from its previous closing of Rs. 73.35 on the BSE.
The scrip opened at Rs. 75.05 and has touched a high and low of Rs. 75.50 and Rs. 73.65 respectively. So far 220461 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 103.30 on 01-Dec-2022 and a 52 week low of Rs. 45.30 on 24-Feb-2022.
Last one week high and low of the scrip stood at Rs. 79.75 and Rs. 73.10 respectively. The current market cap of the company is Rs. 5850.74 crore.
The promoters holding in the company stood at 23.61%, while Institutions and Non-Institutions held 36.94% and 39.45% respectively.
Lemon Tree Hotels has signed a License Agreement for a new hotel in Bhopal,s Madhya Pradeh under the Company’s brand Lemon Tree Hotel. The hotel is expected to be operational by December 2023. Carnation Hotels, a wholly owned subsidiary and the hotel management arm of the Company will be operating this hotel.
This hotel will feature 47 well-appointed rooms, a restaurant, a banquet, a gym and other public areas. The Bhopal Airport is about 17 kms from the property while the Railway Station is just 6 kms. The property is connected by both public and private transport to all the major cities in India.
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.
