India's Lemon Tree Hotels up after signing franchise agreement

Lemon Tree Hotels

04/03/2024 06:27

** Shares of Lemon Tree Hotels  LEMO.NS  rise 3.2% to 145.9
rupees
    ** Co said it has signed franchise agreement for upcoming
hotel in Rajasthan state, expected to be operational in FY25
    ** LEMO trading above its 200-day simple moving avg since
April
    ** Nearly 4.4 mln shares change hands, 0.8x its 30-day avg
    ** Sixteen analysts covering the stock, on avg, have a "buy"
rating; median PT is 153.5 rupees - LSEG data
    ** Stock up ~22% so far this quarter, eyes fourth
consecutive quarterly gain


 (Reporting by Ashna Teresa Britto in Bengaluru)
 ((AshnaTeresa.Britto@thomsonreuters.com ; ( +91 8078332441))