Indian Hotels slips 18% in 1 week on growth concerns; stock hits 17-mth low

Hotel industry's performance this fiscal has been impacted by various factors, including Jet Airways shutdown, general elections, protests, and lack of demand due to general slowdown

Shares of Indian Hotels Company were trading lower for the fifth straight day, sliding 7 per cent to hit a 17-month low of Rs 115, on the BSE on Thursday in the intra-day trade on concerns of soft demand due to outbreak of coronavirus.

The stock of the Tata Group Company was trading at its lowest level since October 9, 2018. In the past one week, it has slipped 18 per cent, as compared to a 2.3 per cent decline in the S&P BSE Sensex.

India’s hotel industry's performance this fiscal has been impacted by various factors, including Jet Airways