India's Lemon Tree Hotels rises on signing new property in Mumbai

Indian Hotels

11/09/2024 05:47

** Shares of Lemon Tree Hotels  LEMO.NS  rise 2.3%
    ** Hotel chain signs license agreement for new property in
Mumbai
    ** Expects to open new hotel in FY26
    ** LEMO, set for best day in three weeks
    ** Avg rating of 16 analysts covering the stock is "buy";
median PT is 152.50 rupees - LSEG data
    ** Stock up ~11% so far this year, on track for fourth
straight year of gains
    ** Peers Indian Hotels Co  IHTL.NS  and Chalet Hotels
 CHAL.NS  up ~58% and ~30%, respectively, YTD

 (Reporting by Dimpal Gulwani in Bengaluru)
 ((dimpal.gulwani@thomsonreuters.com))