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ITC increases stake in Hotel Leelaventure

Diversified business group ITC has scaled up its holding in Hotel Leelaventure Limited, yet again, by acquiring more than one per cent through its wholly owned subsidiary, Russell Credit. During the April-June quarter, Russell Credit picked up 1.1 per cent in the hospitality major, taking total stake to 13.98 per cent, while the promoters hold a 56.57 per cent. The Hotel Leela stock hovered between Rs 29.55 and Rs 35.75 around that time. ITC has been accumulating Hotel Leela shares since late 2008 when the stock was trading between Rs 19-20, but has maintained that these were treasury ...