For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

Markets disappointed with Indian Hotels bid for Orient-Express

|
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.

GoodReturns.in

Read more about: indian hotels
Story first published: Friday, October 19, 2012, 10:30 [IST]
Company Search
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more