197% Rise In 2-Yrs: Tata Group Hotel Co Invests Rs 35 Cr In Zarrenstar Via Rights Issue

Large cap Tata Group company Indian Hotels Co Ltd (IHCL) on Tuesday informed via its BSE filing about investing Rs 35 crore (Rupees Thirty - Five Crores) in the equity shares of Zarrenstar Hospitality Private Limited (WhollyOwned Subsidiary) by way of subscription to Rights Issue. Meanwhile, IHCL shares offered multibagger returns of 197% in last 2-years. In last 1-week, Indian Hotels Co shares slipped marginally by 0.80%. Check details below:

IHCL Invests In Zarrenstar: Zarrenstar Hospitality Private Limited (Wholly- Owned Subsidiary) is presently developing a hotel at Cochin International Airport. It had a turnover of Rs 0.003 Crores as on March 31, 2023, added the BSE filing of IHCL. The transaction involves subscription by way of Rights Issue of equity shares of Zarrenstar Hospitality Private Limited (Zarrenstar), which is an existing Wholly Owned Subsidiary (WOS) of the Company. Transactions between a holding company and its WOS whose accounts are consolidated with such holding company are exempt under Related Party Transactions, stated the BSE filing.

Indian Hotels Co Ltd Shares Performance & Return: The 52-week high price of Indian Hotels Co Ltd shares on BSE is Rs 602.75 apiece and 52-week low price is Rs 302.30 apiece, respectively. The company has a market capitalisation of Rs 80,552.03 crore. Indian Hotels Co Ltd shares declined 0.80% in last 1-week, soared 30% year-to-date, jumped 77% in last 1-year, and gained 197% in last 2-years. In last 3-years, IHCL shares soared 365%.

Last year in January, Indian Hotels Company announced the inking of two Taj-branded resorts in Lakshadweep. "The Greenfield projects are slated to open in 2026, and will be developed by IHCL," said Indian Hotels Company (IHCL). "We see significant potential in Lakshadweep, with its pristine beaches and coral reefs set amongst the Arabian Sea," Puneet Chhatwal, IHCL MD and CEO, said while declaring the inking of resorts last year. "The two world-class Taj resorts will attract international as well as national travellers."

Rekha Jhunjhunwala Stake In Indian Hotels: It is worth mentioning that leading investor Rekha Jhunjhunwala has 2.11% stake in Indian Hotels stock and holds 30016965 shares of the company with the net worth of Rs 1203.4 crore as of September 30, 2023 quarter, according to data available at BSE and Trendlyne.

Indian Hotels Company Financials: The company announced a surge of 18% in its consolidated profit after tax (PAT) at Rs 451.95 crore for the quarter ended December 31, 2023 amid robust performance across all the verticals. The renowned hospitality company's PAT was declared at Rs 382.71 crore in the corresponding quarter of last year, as per the BSE filing. Its revenue from operations soared 16.49% to Rs 1963.84 crore for December 2023 quarter as compared to Rs 1685.80 crore in the similar quarter last fiscal.

Indian Hotels Company About: IHCL and its subsidiaries bring together a group of brands and businesses that offer a fusion of warm Indian hospitality and world-class service. These include Taj - the iconic brand for the most discerning travellers and ranked as the World's Strongest Hotel Brand and India's Strongest Brand across sectors as per Brand Finance Hotels 50 Report 2022 and India 100 Report 2022 respectively, according to its official website.

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