Indian Hotels Company rises on accelerating portfolio expansion in FY23 with new hotels

Indian Hotels Company is currently trading at Rs. 328.85, up by 0.85 points or 0.26% from its previous closing of Rs. 328.00 on the BSE.

The scrip opened at Rs. 329.00 and has touched a high and low of Rs. 330.60 and Rs. 324.65 respectively. So far 130415 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. 207.25 on 20-Jun-2022.

Last one week high and low of the scrip stood at Rs. 332.20 and Rs. 318.30 respectively. The current market cap of the company is Rs. 46731.15 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 marked yet another year of accelerated portfolio expansion in FY 2022-23. It recorded an industry-leading pipeline with the signing of 36 new hotels and opening of 16 new hotels, in the past one year. The current pipeline stands at 73 hotels.

With eight new hotel signings, lthe iconic uxury brand and the World’s Strongest Hotel Brand, Taj is slated to reach the 100-hotel milestone from 98 hotels currently. In line with its strategy of pioneering new destinations, Taj announced two resorts in Lakshadweep. Building its presence in state capitals Taj signed two hotels in Gandhinagar and Raipur.

Strengthening its footprint in metro cities of Chennai and Bengaluru, IHCL added a Taj hotel in each city and continued focus on key international markets with the signing of a Taj hotel in Riyadh, Saudi Arabia. Enhancing its leisure offerings, the year saw the opening of Sawai Man Mahal Palace and Taj Amer in Jaipur, Taj Wayanad, Kerala and added Taj City Centre New Town in Kolkata.

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.