Royal Orchid Hotels moves up on getting nod to make additional investment in Icon Hospitality
Royal Orchid Hotels is currently trading at Rs. 341.45, up by 3.10 points or 0.92% from its previous closing of Rs. 338.35 on the BSE.
The scrip opened at Rs. 340.00 and has touched a high and low of Rs. 344.65 and Rs. 335.50 respectively. So far 7997 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 384.75 on 25-May-2023 and a 52 week low of Rs. 112.55 on 22-Jun-2022.
Last one week high and low of the scrip stood at Rs. 378.00 and Rs. 335.00 respectively. The current market cap of the company is Rs. 934.51 crore.
The promoters holding in the company stood at 63.60% while Institutions and Non-Institutions held 4.84% and 31.56% respectively.
Royal Orchid Hotels has received approval for additional investment in Icon Hospitality, a Subsidiary Company (ICON) by way of purchase of 9,29,872 equity shares of ICON (representing 48.93% of equity share capital of ICON) from the existing Shareholders of ICON. On completion of the said purchase, the company's shareholding in ICON would increase from 51.07% to 100%. The Board of Directors of the company at its meeting held on May 30, 2023, approved the same.
Royal Orchid Hotels is one of India's fastest-growing hospitality brands
