Lemon Tree Hotels is right here among the gainers currently; the stock, which had closed yesterday at Rs.106.95, opened today morning at Rs.108.95 and rose to an intraday high at Rs.111.80, a rise of over 4.5%. Its 52-week high is at Rs.126.70.
The stock price rose, cheered by its announcement of signing a licence agreement for a hotel, Red Fox Hotel, in Visakhapatnam, Andhra Pradesh.
This hotel will have 50 well-appointed rooms, one restaurant, fitness centre, a conference room and other public areas.
The company said that the property with throw open its gates in FY26 and will be managed by Carnation Hotels Private Limited, a wholly-owned subsidiary and the management arm of Lemon Tree Hotels Limited.
This will be the fifth hotel of Lemon Tree in Andhra Pradesh, with two more hotels and one resort coming up soon in the State.