Multibagger Stock: Cricket World Cup is in India this year. In such a situation, hotel companies are expected to benefit a lot from this World Cup. For this reason experts are advising to buy this stock. Shares of Lemon Tree Hotels rose nearly 8 percent in the stock market on Tuesday. The reason behind the jump in the company’s shares is the new announcement. Let’s know about it –
Why do stocks rise?
In a disclosure to the stock markets, the company said it has tied up with Alivia Hospitality Management Services. The company currently has 2 hotels. But in the next time their number will increase to 6. Shares surged on Tuesday due to the new contract signed by the company.
Let us tell you that on August 21, the company entered into a license agreement with two properties in Bhubaneswar and Kasauli.
How is the company performing in the stock market?
The share price of the company has seen an increase of more than 25 percent in the last one month. Whereas the investors who bought and held this stock 6 months ago have made more than 60 percent profit. Let us tell you that the 52-week high price of Lemon Tree Hotels in BSE is Rs 125.25 per share. The company reached this level today.