India's Lemon Tree Hotels up; signs new property licence

Lemon Tree Hotels

29/08/2024 05:58

** Shares of Lemon Tree Hotels  LEMO.NS  rise 2.3% to 135.6
rupees, set for best day in a week
    ** Hotel chain co signs license agreement for new property
in Ujjain, Madhya Pradesh; hotel expected to open in FY 2027
    ** More than 5 mln shares change hands, nearly same as the
30-day avg 
    ** Avg rating of 16 analysts covering the stock at "buy";
median PT is at 152.50 rupees - LSEG data
    ** Stock up 14% so far this year, had gained ~40% in 2023
for third straight year of gains  


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