India's Spectrum Foods gains after deal with UK's IHG
22/10/2024 07:12
** Shares of Spectrum Foods SPFO.BO rises 6.9% to 30
rupees, their highest since Sept. 16
** Spices maker, which also operates a hospitality segment,
signs agreement with Intercontinental Hotels Group IHG.L , for
management and branding of SPFO's upcoming 5-star Pushkar hotel
** Projected revenue from hotel for 2029 at 682.3 million
rupees ($8.12 million)
** Co says hotel is at advanced stage of completion
** SPFO sees busiest day in over 7 months, with more than
441,000 shares traded
** Stock up 32.5% YTD
($1 = 84.0730 Indian rupees)
(Reporting by Aleef Jahan in Bengaluru)
((aleefjahan.cs@thomsonreuters.com))
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