Lemon Tree Hotels jumps on signing new hotel in Rajasthan

Lemon Tree Hotels is currently trading at Rs. 78.29, up by 1.70 points or 2.22% from its previous closing of Rs. 76.59 on the BSE.

The scrip opened at Rs. 77.70 and has touched a high and low of Rs. 79.24 and Rs. 77.70 respectively. So far 85687 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 103.30 on 01-Dec-2022 and a 52 week low of Rs. 51.95 on 21-Mar-2022.

Last one week high and low of the scrip stood at Rs. 79.80 and Rs. 75.00 respectively. The current market cap of the company is Rs. 6192.20 crore.

The promoters holding in the company stood at 23.61%, while Institutions and Non-Institutions held 36.94% and 39.45% respectively.

Lemon Tree Hotels has signed a License Agreement for a 60 room property in Sri Ganganagar, Rajasthan under the Company’s brand ‘Lemon Tree Hotels’. The hotel is expected to be operational by July, 2026. The property shall be managed by Carnation Hotels a wholly owned subsidiary and the management arm of Lemon Tree Hotels.

Lemon Tree Hotel, Sri Ganganagar will feature 60 well-appointed rooms, a restaurant, a bar, a fitness center and other public areas. The property is connected by both public and private transport, with Sri Ganganagar Airport about 20 kms from the property and the Railway Station just 9 kms away.
The northern most city of Rajasthan, Sri Ganganagar is often referred to as ‘the food basket of Rajasthan’ due to its fertile plains, which are similar to those of Punjab. One can visit the historical Buddha Johad Gurudwara, located by the Dabla village in Ganganagar, which houses historical paintings and monuments.

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.  


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