Indian Hotels Company rises on investing in Genness Hospitality, Qurio Hospitality
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Indian Hotels Company is currently trading at Rs. 421.20, up by 1.25 points or 0.30% from its previous closing of Rs. 419.95 on the BSE.
The scrip opened at Rs. 419.65 and has touched a high and low of Rs. 421.65 and Rs. 417.70 respectively. So far 41201 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 436.25 on 07-Sep-2023 and a 52 week low of Rs. 280.20 on 27-Jan-2023.
Last one week high and low of the scrip stood at Rs. 424.70 and Rs. 412.30 respectively. The current market cap of the company is Rs. 59649.68 crore.
The promoters holding in the company stood at 38.19%, while Institutions and Non-Institutions held 45.43% and 16.38% respectively.
Indian Hotels Company has invested Rs 55 crore in the equity shares of Genness Hospitality (Genness) and Rs 35 crore in the equity shares of Qurio Hospitality (Qurio), by way of subscription to Rights Issues. Being the wholly-owned subsidiaries, there is no change in the shareholding percentage of the company in Genness and Qurio, pursuant to the aforesaid investment.
Indian Hotels Company and its subsidiaries are collectively known as Taj Hotels Resorts and Palaces and recognized as one of Asia's largest and finest hotel company. It operates in the luxury, premium, midmarket and value segments of the market.
