Lemon Tree Hotels surges on signing new property in Gujarat
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Lemon Tree Hotels is currently trading at Rs. 148.00, up by 3.40 points or 2.35% from its previous closing of Rs. 144.60 on the BSE.
The scrip opened at Rs. 146.05 and has touched a high and low of Rs. 149.00 and Rs. 145.70 respectively. So far 50325 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 158.05 on 06-May-2024 and a 52 week low of Rs. 89.95 on 10-Jul-2023.
Last one week high and low of the scrip stood at Rs. 150.90 and Rs. 141.50 respectively. The current market cap of the company is Rs. 11725.25 crore.
The promoters holding in the company stood at 22.88%, while Institutions and Non-Institutions held 42.44% and 34.68% respectively.
Lemon Tree Hotels has signed new property in Morbi, Gujarat. The property, which shall be managed by Lemon Tree Hotels, is expected to open in FY 2029. Morbi, situated on the Kathiawar peninsula in Gujarat, India, holds a rich history and cultural heritage. It was once the capital of the Morvi State and is now renowned as the ‘ceramics capital of India’ due to its thriving pottery industry.
Lemon Tree Hotel, Morbi will feature 75 well-appointed rooms, a restaurant, a banquet hall, a meeting room, a spa, and a swimming pool. The Rajkot International Airport is about 65 kms from the property while the Morbi Railway Station is about 12 kms away. 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.
