Indian Hotels Company surges on acquiring shares in ELEL Hotel and Investment
The Indian Hotels Company is currently trading at Rs. 758.95, up by 7.70 points or 1.02% from its previous closing of Rs. 751.25 on the BSE.
The scrip opened at Rs. 754.00 and has touched a high and low of Rs. 760.80 and Rs. 751.25 respectively. So far 76210 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 894.15 on 30-Dec-2024 and a 52 week low of Rs. 571.15 on 19-Jul-2024.
Last one week high and low of the scrip stood at Rs. 760.80 and Rs. 725.00 respectively. The current market cap of the company is Rs. 107839.23 crore.
The promoters holding in the company stood at 38.12%, while Institutions and Non-Institutions held 46.14% and 15.75% respectively.
Indian Hotels Company has acquired over 3.3 lakh equity shares through a rights issue in wholly-owned arm ELEL Hotel and Investment for over Rs 165 crore. ELEL Hotel and Investment holds the leasehold rights for the land parcel at Bandstand Bandra, under which Taj Bandstand is proposed to be developed.
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.
