Markets disappointed with Indian Hotels bid for Orient-Express

Posted By:

Markets disappointed with Indian Hotels bid for Orient
Shares of Tata controlled Indian Hotels dropped by 4.5% today as the markets were not impressed by the company's bid for Orient-Express. The shares were last traded at Rs 67 on the Bombay Stock Exchange.

Indian Hotels Company Ltd, which operates under the renowned Taj brand, made an unsolicited $1.2 billion bid for luxury hotels group Orient-Express Hotels.

Markets were unimpressed by the huge premium that Indian Hotels is paying for Orient-Express. Apart from this the hospitality industry has not been doing too good, which could put further pressure on the company's performance.

Read more about: indian hotels
Please Wait while comments are loading...
Company Search
Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

Thousands of Goodreturn readers receive our evening newsletter.
Have you subscribed?