The stock ended at Rs 51, up 1% from its previous close. The counter witnessed trades of 3.64 lakh shares on the BSE.
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(Updated at 0935hrs)
Hotel Leelaventure has strengthened on reports that ITC’s investment arm Russell Credit has raised its stake to 7.37 per cent, an increase of 2.26 percentage points. Leela is trading at Rs 51, higher by Rs 1 or 2.4%, while ITC is trading sluggish at Rs 248, on the BSE.
After courting EIH, which runs the Oberoi chain of hotels, for nine years, Russell Credit has increased its stake in Leela in the last two-three months. The promoters of Mumbai-based Leela group, meanwhile, said they were not interested in tying the knot with ITC as a strategic partner in the growing hotels business.
Leela Group has a presence in both the business and leisure segments.
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