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Lemon Tree Hotels Ltd Shares: Shares of Lemon Tree have jumped more than 11 percent in the past two days. This is because the company has opened its first hotel in Rajkot and the group’s sixth hotel in Gujarat. Shares of Lemon Tree Hotels on Monday closed at Rs. It touched a new high of 106.30. Shares of Lemon Tree rose 4 percent on the BSE in intraday trade on Monday amid heavy volume. Around 2.15 pm, the share was Rs. was trading at 104.70. In the morning it was Rs. 103.75 and opened at Rs. It reached a peak of 106.45. At the same time, the average trading volume over the counter tripled today.
Lemon Tree said the hotel in Rajkot has 45 well-appointed rooms and suites, a multi-cuisine coffee shop, a citrus cafe, as well as a well-equipped fitness center and swimming pool to keep guests refreshed. Lemon Tree Hotels is one of India’s largest hotel chains based on ownership and controlling interest in leased rooms. It is the largest in the mid-market hotel segment. The company operates in the upscale, upper-mid-scale, midscale and economy segments and offers differentiated yet superior service with an attractive value proposition.
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Going forward, according to Motilal Oswal Financial Services, the company’s five-year (CY24 to CY28) roadmap has the potential to propel the company to the next phase of its growth with the addition of Aurika MIAL (its largest hotel with 669 rooms). . Orica MIAL is likely to be operational by October, 2023. “FY13 was a strong year for the company and we expect the strong momentum to continue,” the brokerage firm said. MOFSL Rs. Reiterates a Buy rating on the stock with a target price of 115.
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