Lemon Tree Hotels jumps on signing new hotel in Rajasthan
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Lemon Tree Hotels is currently trading at Rs. 84.05, up by 0.85 points or 1.02% from its previous closing of Rs. 83.20 on the BSE.
The scrip opened at Rs. 83.20 and has touched a high and low of Rs. 84.95 and Rs. 80.15 respectively. So far 429349 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. 44.55 on 31-Dec-2021.
Last one week high and low of the scrip stood at Rs. 84.95 and Rs. 70.25 respectively. The current market cap of the company is Rs. 6623.18 crore.
The promoters holding in the company stood at 23.61%, while Institutions and Non-Institutions held 38.19% and 38.20% respectively.
Lemon Tree Hotels has signed a License Agreement for a 54 room hotel in Banswara, Rajasthan under the Company’s brand ‘Keys Lite by Lemon Tree Hotels’. The property is expected to be operational by April 2024 and shall be managed by Carnation Hotels, a wholly-owned subsidiary and the management arm of Lemon Tree Hotels.
This property will feature 54 well-appointed rooms, a restaurant, banquet spaces and a fitness center. The Udaipur Airport is about 161 kms from the property, while the Tatanagar Railway Station is 3 kms away.
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.
