Omaxe gains on MoU for 10 hotel projects across India

Lemon Tree Hotels

16/10/2026 09:52

** Shares of India's Omaxe OMAX.NS rise as much as 3.9% to 112.95 rupees
** Real estate developer says it has entered into an MoU with Carnation Hotels, a unit of Lemon Tree Hotels LEMO.NS to operate 10 hotel projects across India
** Adds the 10 projects entail an estimated investment of about 40 billion rupees ($421.27 million)
** Stock up 32.2% YTD 
     
($1 = 94.9500 Indian rupees)

(Reporting by Payel Das in Bengaluru)
((Payel.das@thomsonreuters.com))