Indian Hotels Company rises on opening a new resort in Gangtok

At 12 pm, the shares of Indian Hotels Company were trading at Rs 414, up by 1.26% from its previous closing of Rs 408.85 on the BSE.

Indian Hotels Company (IHCL) has expanded its footprint in Sikkim with the opening of a resort in the state capital Gangtok. The 69-key resort, spread over 14 acres of land, is a serene hide-out and is a blend of Sikkimese aesthetics and contemporary design.

Nestled in the alpine landscape of Sikkim, the resort is set amidst lush greenery and offers panoramic views of the Kanchenjunga. With the addition of the new facility, IHCL will have 11 hotels with three under development in Northeast India. This includes three hotels across Taj, Vivanta and Ginger brands in Sikkim.

Incorporated in 1903, Indian Hotels Company Ltd (IHCL) is promoted by Tata Sons Pvt Limited. It has long-standing operations spanning over 100 years and operates the largest chain of hotels in South Asia. IHCL, its subsidiaries and associates are widely recognised under the umbrella brand name ‘Taj Hotels Resorts and Palaces’, which has 249 hotels with a room inventory of 33,239 rooms (With Pipeline) globally across four continents, 12 countries and in over 125+ locations. This includes a presence in India, North America, the UK, Africa, the Middle East, Malaysia, Sri Lanka, Maldives, Bhutan, and Nepal.

Today, the stock opened at Rs 410.95 and has touched a high and low of Rs 414.30 and Rs 405.65, respectively. The BSE group ‘A’ stock of face value of Rs 1 has touched a 52-week high and low of Rs 436.25 and Rs 280.20, respectively.

Last one week high and low of the scrip stood at Rs 421.40 and Rs 400.65 respectively. The current market cap of the company is Rs 58,527.60 crore. The promoters holding in the company stood at 38.19%, while Institutions and Non-Institutions held 45.82% and 15.99%, respectively.

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