Indian Hotels gains on investing Rs 50 crore in Zarrenstar Hospitality
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The Indian Hotels Company is currently trading at Rs. 669.30, up by 2.20 points or 0.33% from its previous closing of Rs. 667.10 on the BSE.
The scrip opened at Rs. 672.05 and has touched a high and low of Rs. 675.10 and Rs. 665.20 respectively. So far 30787 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. 714.30 and Rs. 648.95 respectively. The current market cap of the company is Rs. 94978.52 crore.
The promoters holding in the company stood at 38.12%, while Institutions and Non-Institutions held 46.23% and 15.64% respectively.
Indian Hotels Company has invested Rs 50 crore in the equity shares of Zarrenstar Hospitality (Wholly- Owned Subsidiary) by way of subscription to Rights Issue. With the current investment, the company’s shareholding in Zarrenstar remains at 100%. The funds will be used by the WOS for developing a hotel near Cochin International Airport.
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.
