27 Mar 2024

Indian Hotels Company trades higher on infusing $6.5 million as equity in IHOCO BV

Indian Hotels Company is currently trading at Rs. 575.10, up by 6.55 points or 1.15% from its previous closing of Rs. 568.55 on the BSE.

The scrip opened at Rs. 569.85 and has touched a high and low of Rs. 579.00 and Rs. 569.50 respectively. So far 29564 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 602.75 on 23-Feb-2024 and a 52 week low of Rs. 302.30 on 28-Mar-2023.

Last one week high and low of the scrip stood at Rs. 579.00 and Rs. 548.10 respectively. The current market cap of the company is Rs. 82046.63 crore.

The promoters holding in the company stood at 38.12%, while Institutions and Non-Institutions held 45.61% and 16.28% respectively.

Indian Hotels Company (IHCL) has infused $6.5 million as equity in its Wholly Owned Subsidiary in Netherlands i.e. IHOCO BV on March 26, 2024. The investment amount will be used by IHOCO BV to further make investment in its subsidiary viz. United Overseas Holding Inc in USA to repay its debt & for other operational purposes. 

Indian Hotels Company and its subsidiaries are collectively known as Taj Hotels Resorts and Palaces and recognized as one of Asia's largest and finest hotel company. It operates in the luxury, premium, midmarket and value segments of the market.