Shares of Lemon Tree Hotels Ltd. advanced 2.42% to Rs 78.45 apiece in trade on Friday. The headline index NSE Nifty 50 was trading higher by 0.46%.
The company signed a license agreement for a 60-room property in Sri Ganganagar, Rajasthan, which is expected to be operational by July 2026.
Scrip advanced as much as 3.53% intraday, rising the most since March 14, 2023.
Total traded volume stood at 1.2 time its 30-day average. The relative strength index was at 52.
Out of the 13 analysts tracking the company, 12 maintain a ‘buy’ rating and one suggests to ‘sell’ the stock.
The return potential as calculated by the consensus of analyst estimates, stand at an upside of 35% over the next 12 months.
Source: Exchange filing
