Lemon Tree stock price gains on launching first property in Jharkhand

Lemon Tree stock gains: Shares of hotel chain operator Lemon Tree Hotels jumped up to 1.5 per cent to hit an intraday high of Rs 148.80 per share on Tuesday.

The uptick in stock price acme after the company launched its first property in Jharkhand with Lemon Tree Hotel, Centre Point, Jamshedpur

“This managed hotel is the first property of the group in Jharkhand,” Lemon Tree Hotels said in a statement.

The hotel boasts 42 well-appointed rooms, Slounge – a hip recreation bar, Republic of Noodles – the award winning Pan-Asian restaurant, a banquet, a fully equipped fitness centre and other public areas.

Lemon Tree Hotels Limited (LTHL) is among India's largest hotel chains, operating across various market segments from upscale to economy. 

The company owns, leases, operates, and franchises hotels, delivering distinct and high-quality service offerings with an attractive value proposition. LTHL encompasses seven brands tailored to cater to diverse guest preferences including Aurika Hotels & Resorts, Lemon Tree Premier, Lemon Tree Hotels, Red Fox Hotels by Lemon Tree Hotels, Keys Prima by Lemon Tree Hotels, Keys Select by Lemon Tree Hotels, and Keys Lite by Lemon Tree Hotels.

Established in May 2004 with its inaugural property featuring 49 rooms, LTHL has rapidly expanded its footprint. 

Currently, the portfolio includes over 160 hotels, comprising over 100 operational hotels and more than 60 properties slated to open in India and globally. 

Lemon Tree Hotels are strategically located in major metro areas such as NCR, Mumbai, Kolkata, Bengaluru, Hyderabad, and Chennai, as well as in numerous tier I, II, and III cities across India such as Pune, Ahmedabad, Chandigarh, Jaipur, Indore, Aurangabad, Udaipur, Visakhapatnam, Kochi, Ludhiana, Thiruvananthapuram, and Vijayawada. Internationally, 

LTHL has expanded its presence with recent openings in Dubai (December 2019), Bhutan (February 2020), and Nepal (April 2024).

The market capitalisation of the company is Rs 11,653/95 crore, according to Bombay Stock Exchange (BSE).

The 52-week high of the stock is Rs 158.05 per share while its 52-week low is Rs 90.15 per share. 

At 9:48 AM, shares of Lemon Tree Hotels were trading merely 0.14 per cent higher at Rs 146.95 per share. In comparison, BSE Sensex was trading 0.18 per cent higher at 80,813.98 levels.