Lemon Tree Hotels moves up on signing license agreement for 64 room hotel in Erode
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Lemon Tree Hotels is currently trading at Rs. 76.85, up by 0.65 points or 0.85% from its previous closing of Rs. 76.20 on the BSE.
The scrip opened at Rs. 77.30 and has touched a high and low of Rs. 78.50 and Rs. 76.35 respectively. So far 750535 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 79.05 on 10-Aug-2022 and a 52 week low of Rs. 38.40 on 08-Sep-2021.
Last one week high and low of the scrip stood at Rs. 78.50 and Rs. 71.75 respectively. The current market cap of the company is Rs. 6076.53 crore.
The promoters holding in the company stood at 23.93%, while Institutions and Non-Institutions held 39.32% and 36.75% respectively.
Lemon Tree Hotels has signed a License Agreement for a 64 room hotel in Erode, Tamil Nadu 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.
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.
