Indian Hotels soars on earmarking capex of Rs 5,000 crore to double number of properties by 2030
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Indian Hotels Company is currently trading at Rs. 765.50, up by 12.10 points or 1.61% from its previous closing of Rs. 753.40 on the BSE.
The scrip opened at Rs. 760.00 and has touched a high and low of Rs. 768.00 and Rs. 754.20 respectively. So far 80319 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 768.00 on 21-Nov-2024 and a 52 week low of Rs. 413.50 on 22-Nov-2023.
Last one week high and low of the scrip stood at Rs. 768.00 and Rs. 709.80 respectively. The current market cap of the company is Rs. 107241.38 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 (IHCL) has earmarked capital expenditures (capex) of Rs 5,000 crore to double its number of properties to over 700 by 2030. Under the 'Accelerate 2030' programme, the company is also looking to double its consolidated revenue to Rs 15,000 crore in the next five years. By 2030, the company's total number of rooms will be 70,000 which means another 30,000 rooms to be added in the next five years.
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.
