Exchanges seek clarification from Indian Hotels over buzz Taj to open 775-room hotel complex; Stock gains 1%

The Indian Hotels stock was trading on a positive note on Thursday amid exchanges seeking clarification from the company over a buzz that stated that Taj will open a 775-room hotel complex at KIA.

At around 12:01 PM, Indian Hotels was trading at Rs137 per piece higher by 1.2% on Sensex. The stock was near the day’s high of Rs137.80 per piece.

BSE and NSE have sought clarification from Indian Hotels over a news article that appeared in The Hindu titled “Taj to open 775-room hotel complex at KIA”.

According to the news article, the Indian Hotels Company (IHCL), which owns/ operates Taj Group of hotels, agreed with Bengaluru Airport City Limited (BACL) to set up a 775-room hotel at Kempegowda International Airport.

The deal comprises of 450-room Vivanta and a 325-room Ginger hotel and will be operated under a management contract with BACL at the airport, where IHCL already operates Taj Bangalore.

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