This Tata Group stock has zoomed 109% against its rights issue price

Meanwhile, the stock has surged 55 per cent against its qualified institutional placement (QIP) price of Rs 202 per share

Shares of Indian Hotels Company (IHCL) hit a new high of Rs 313.70 after rising nearly 3 per cent on the BSE in Wednesday’s subdued market. The upmove came on the back of improved business outlook of the company.

The stock of the Tata Group firm has rallied 10 per cent in the past one week as compared to a 0.87 per cent decline in the S&P BSE Sensex.

In the past three months, IHCL has outperformed the market by surging 35 per cent vs a 7 per cent rise in the Sensex. Moreover, over the last six