Lemon Tree Hotels gains on signing new property in Noida
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Lemon Tree Hotels is currently trading at Rs. 131.00, up by 2.20 points or 1.71% from its previous closing of Rs. 128.80 on the BSE.
The scrip opened at Rs. 128.40 and has touched a high and low of Rs. 131.50 and Rs. 126.65 respectively. So far 98467 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 146.45 on 05-Feb-2024 and a 52 week low of Rs. 72.85 on 27-Mar-2023.
Last one week high and low of the scrip stood at Rs. 139.55 and Rs. 126.60 respectively. The current market cap of the company is Rs. 10378.43 crore.
The promoters holding in the company stood at 23.21%, while Institutions and Non-Institutions held 37.81% and 38.98% respectively.
Lemon Tree Hotels has signed a License Agreement for upcoming hotel in Noida under the Company’s brand ‘Lemon Tree Hotel’. Lemon Tree Hotels is expanding its portfolio in Uttar Pradesh and this opening will be in addition to six existing and four upcoming properties in the state which has several tourist attractions that showcase its historical and religious significance.
This hotel will feature 40 well-appointed rooms, a restaurant, a bar, a banquet hall, meeting rooms, and other public areas and is expected to be operational in FY25. Carnation Hotels, a wholly-owned subsidiary and the hotel management arm of the Company will be operating this Hotel.
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.
