Indian Hotels Company surges on signing Taj branded hotel in Karnataka
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Indian Hotels Company is currently trading at Rs. 712.15, up by 2.85 points or 0.40% from its previous closing of Rs. 709.30 on the BSE.
The scrip opened at Rs. 710.00 and has touched a high and low of Rs. 715.40 and Rs. 699.20 respectively. So far 153882 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 720.60 on 24-Sep-2024 and a 52 week low of Rs. 371.45 on 27-Oct-2023.
Last one week high and low of the scrip stood at Rs. 720.60 and Rs. 698.50 respectively. The current market cap of the company is Rs. 101341.26 crore.
The promoters holding in the company stood at 38.12%, while Institutions and Non-Institutions held 45.62% and 16.27% respectively.
Indian Hotels Company (IHCL) has signed a Taj branded hotel in Chikkamagaluru, Karnataka. The hotel is a greenfield project. With the addition of this hotel, IHCL will have 24 hotels in Karnataka including 9 under development.
Spread across 25 acres, the 160-key Taj Chikkamagaluru is surrounded by coffee estates and panoramic views of the Mullayanagiri Peak. A 20-minute drive from the city centre, the hotel will offer an all-day-dining restaurant, a specialty restaurant, a bar, and a poolside bar. It will feature two swimming pools, a state-of-the-art fitness center, J Wellness Circle spa, a kids' club, and a library. The hotel will also cater extensively to MICE travellers with large banqueting facilities over 5,000 sq. ft, including meeting rooms and a pre-function area.
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.
