Indian Hotels Company climbs on signing Vivanta branded hotel in Thane

Indian Hotels Company is currently trading at Rs. 308.60, up by 8.95 points or 2.99% from its previous closing of Rs. 299.65 on the BSE.

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Indian Hotels Company

The scrip opened at Rs. 300.05 and has touched a high and low of Rs. 309.65 and Rs. 300.00 respectively. So far 120300 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 1 has touched a 52 week high of Rs. 348.70 on 06-Oct-2022 and a 52 week low of Rs. 180.75 on 07-Mar-2022.

Last one week high and low of the scrip stood at Rs. 324.90 and Rs. 298.20 respectively. The current market cap of the company is Rs. 43627.57 crore.

The promoters holding in the company stood at 38.19%, while Institutions and Non-Institutions held 45.68% and 16.13% respectively.

Indian Hotels Company (IHCL) has signed a Vivanta branded hotel in Thane in the Mumbai Metropolitan Region. The brownfield project is slated to open by 2025. With the addition of this hotel, IHCL will have 31 hotels across Taj, Vivanta, SeleQtions and Ginger brands in Maharashtra including ten under development.

The 122 keys hotel is strategically situated at Shilphata which is at a comfortable driving distance from both the Jawaharlal Nehru Port (JNPT) and the upcoming new international Navi Mumbai airport. It is a part of a mixed use development spread over 14 acres that comprises multiple recreational choices. The hotel facilities will include the signature all day diner Mynt, a bar, swimming pool and a fitness centre. It will also offer state-of-the-art banqueting space including a 400 sq m hall and meeting rooms.

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.

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