Indian Hotels Company zooms as Tata Sons increases stake by 4.78%

Indian Hotels Company is currently trading at Rs. 60.85, up by 2.00 points or 3.40% from its previous closing of Rs. 58.85 on the BSE.

The scrip opened at Rs. 59.90 and has touched a high and low of Rs. 61.50 and Rs. 59.70 respectively. So far 154610 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 82.60 on 08-Jul-2011 and a 52 week low of Rs. 51.00 on 30-Dec-2011.

Last one week high and low of the scrip stood at Rs. 62.70 and Rs. 54.60 respectively. The current market cap of the company is Rs. 4921.55 crore.

The promoters holding in the company stood at 33.58 % while Institutions and Non-Institutions held 37.11 % and 29.27 % respectively.

Tata Sons, the promoter of all key companies of the Tata Group has increased its stake by 4.78% in Indian Hotels Company. Tata Sons has acquired 4,80,00,000 shares in IHCL for a total sum of Rs 497.47 crore through preferential allotment on June 22 this year.

Accordingly, Tata Sons’ holding in IHCL has now increased to 24.36% from 19.58% earlier.

IHCL and its subsidiaries are collectively known as Taj Hotels Resorts and Palaces. The Taj Hotels Resorts and Palaces currently has 93 hotels in 55 locations across India with an additional 16 international hotels in the Maldives, Malaysia, Australia, UK, USA, Bhutan, Sri Lanka, Africa and the Middle East.