Indian Hotels rallies 6% on heavy volumes, hits 20-month high

With international arrivals dropping at an alarming rate due to travel restrictions and advisories from time to time, the demand for hospitality is expected to arise mainly from the domestic sector

Shares of Indian Hotels rallied 6 per cent to hit a 20-month high of Rs 157.25 on the BSE in intra-day trade on Wednesday on the back of heavy volumes. The stock of the Tata Group company was trading at its highest level since November 2019. It touched a record high of Rs 164, on June 26, 2019.

In the past four trading days, the market price of Indian Hotels has surged 11 per cent after the company said that a special committee of the board approved raising up to Rs 250 crore on a private placement basis through