India's Lemon Tree Hotels rises on licence deal for property in Gujarat

Lemon Tree Hotels

01/03/2024 06:12

** Shares of Lemon Tree Hotels  LEMO.NS  up 2.3% at 142.6 rupees
    ** Hotel chain operator signs license agreement for upcoming
hotel in Gujarat
    ** Property expected to be operational by FY25, will be run
by co's unit Carnation Hotels
    ** LEMO poised for second consecutive week of gains if trend
holds
    ** Stock has been trading above its 100-day and 200-day
moving average since last April
    ** Average rating of 16 analysts tracking LEMO is "buy",
median PT is 153.50 rupees - LSEG data
    ** Including session's gains, LEMO is up ~19%, vs 39.9% rise
in 2023


 (Reporting by Navamya Ganesh Acharya in Bengaluru)
 ((Navamya.GaneshAcharya@thomsonreuters.com; +91 8805175330 ;))