Lemon Tree Hotels gains on signing new property in Karnataka
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Lemon Tree Hotels is currently trading at Rs. 118.40, up by 0.70 points or 0.59% from its previous closing of Rs. 117.70 on the BSE.
The scrip opened at Rs. 117.75 and has touched a high and low of Rs. 119.55 and Rs. 117.75 respectively. So far 147009 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 126.70 on 15-Sep-2023 and a 52 week low of Rs. 70.25 on 23-Dec-2022.
Last one week high and low of the scrip stood at Rs. 120.35 and Rs. 113.85 respectively. The current market cap of the company is Rs. 9396.04 crore.
The promoters holding in the company stood at 23.28%, while Institutions and Non-Institutions held 38.23% and 38.48% respectively.
Lemon Tree Hotels has signed new property in Kundapura, Karnataka. The property is expected to open by FY27 and shall be managed by Carnation Hotels, a wholly-owned subsidiary and the management arm of Lemon Tree Hotels. Lemon Tree Hotel, Kundapura, Karnataka will feature 80 well-appointed rooms, restaurants, meeting room, swimming pool, fitness center and other public areas. The Mangalore International Airport is 90 kms while the Udupi railway station is 38 kms from the hotel. The hotel is also well connected by roadways for both public and private transport.
Lemon Tree Hotels is India’s largest hotel chain in the mid-priced hotel sector, and the third largest overall, on the basis of controlling interest in owned and leased rooms.
