Indian Hotels down 3.2% on Orient Express acquisition plan

Indian Hotels Company  has launched hostile bid for Orient Express. The company is going to invest USD 650 million to acquire Orient Express Hotels 93.1% class A shares. The company will fund Orient-Express shares buy via debt and equity, reports CNBC-TV18.

Also read - Indian Hotels Co bids $1.42 bn for Orient-Express

At 09:18 hrs Indian Hotels Company was quoting at Rs 67.90, down Rs 2.30, or 3.28%. It has touched an intraday high of Rs 69.90 and an intraday low of Rs 67.50.
 
It was trading with volumes of 113,249 shares. In the previous trading session, the share closed up 3.24% or Rs 2.20 at Rs 70.20.

The share touched its 52-week high Rs 80.00 and 52-week low Rs 51.00 on 17 February, 2012 and 30 December, 2011, respectively.
 
Currently, it is trading 15.12% below its 52-week high and 33.14% above its 52-week low.
 
Market capitalisation stands at Rs 5,482.74 crore.

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