ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Budget 2023
  • Adani Saga
  • Markets
    • Stocks
    • Global Markets
    • IPO
    • Companies
    • Currency
    • Commodities
  • My Money
  • Calculators
    • Income Tax Calculator
    • Home Loan/EMI Calculator
    • Mutual Fund Returns Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • SIP calculator
    • Lumpsum Calculator
    • SWP Calculator
  • Videos
    • M Se Market
    • Jeb Zindagi Zaroorat
    • Light Camera Stocks
    • Tech Takes
    • Big Bulls Ka Nishana
    • Paisa Wasool
    • Commodity Ke MrityunjayMantra
    • The Right Property Show
  • Economy & Infra
    • Policy & Initiatives
    • Agriculture
    • Telecom
    • Aviation
    • Railways
    • Retail
    • Roadways
    • World Economy
  • Exclusive
    • Wealth Guide
    • Interviews
  • Auto
    • Cars
    • Bikes
    • Electric Vehicle
    • Commercial Vehicles
  • Tech
    • Mobiles
    • Gadgets
    • Reviews
    • Tips and Tricks
    • Apps
  • Real Estate
    • Home Buyers
    • Builders
  • Axis MF
  • Trending
    • Entertainment
    • Politics
    • Lifestyle
    • Travel
    • Sports
    • Viral
    • Education
    • Jobs
Read in App
Business News » Companies News

Indian Hotels' shares plunge 6% as Delhi HC rejects extension bid

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
Indian Hotels' shares plunge 6% as Delhi HC rejects extension bid
Bench of justice Pradeep Nandrajog and Pratibha Rani said "The appeal is dismissed". Photo: Official Website

Shares of Tata-owned Indian Hotels Company Ltd tanked nearly 6% after Delhi High Court rejected Taj Mansingh Hotel's bid to extend lease. 

At 1301 hours the shares of the company were trading at Rs 114.35 per piece, down 5.81%, or Rs 7.05 on BSE. 

Indian Hotels Company, which runs the Taj Mansingh Hotel, had filed an appeal against the auctioning of the property by New Delhi Municipal Corporation (NDMC). 

Bench of justice Pradeep Nandrajog and Pratibha Rani said "The appeal is dismissed", while announcing the judgement, PTI reported. 

In September 5 judgement, the single judge had not acceded to IHCLs plea to renew the licence for a further period. That time, the justice had said that the company was not entitled for the extension. 

As per the report, the property is owned by NDMC, which was given to Tata Group on a lease of 33 years. The lease was ended in 2011 and considering various grounds, the company was given nine temporary extensions, with three of them granted last year itself. 

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
Indian HotelsTaj HotelsDelhi High CourtTata GroupIndian Hotels share priceHospitality
Written By: ZeeBiz WebTeam
Updated: Thu, Oct 27, 2016
01:17 pm
Mumbai, ZeeBiz WebDesk
RELATED NEWS
Hotel sector looks lucrative amid govt's special focus on tourism, says ICICI Securities - suggests to buy these 2 stocks Hotel sector looks lucrative amid govt's special focus on tourism, says ICICI Securities - suggests to buy these 2 stocks
Budget 2023: Tourism stocks spurt as government announces special focus on sector Budget 2023: Tourism stocks spurt as government announces special focus on sector
Brokerage views: Sun Pharma, Coal India, Godrej Consumer, Indian Oil, Indian Hotels in focus on Budget day Brokerage views: Sun Pharma, Coal India, Godrej Consumer, Indian Oil, Indian Hotels in focus on Budget day
Q2 Review: Hotel sector fares well in July-Sept despite seasonality; TajGVK, Lemon Tree & Oriental Hotels close up to 9.5% higher Q2 Review: Hotel sector fares well in July-Sept despite seasonality; TajGVK, Lemon Tree & Oriental Hotels close up to 9.5% higher

LATEST NEWS

PM Kisan 13th installment update: Link Aadhaar with bank account before February 10 to receive Rs 2,000

Meta introduces new comment moderation tools for creators on FB

4 previous instances of Chinese balloons flying over US territory: Pentagon

PM Modi replies on Motion of Thanks in Rajya Sabha Highlights: 'Oppon doesn't have courage to take me on' - Top 10 PM Modi Quotes in Parliament

How to be safe on Instagram? A-Z guide about platform’s safety features

Mumbai-Pune-Solapur Vande Bharat Express: PM Modi to flag off semi-high speed train tomorrow - Check Mumbai-Solapur Vande Bharat route, time table and more

SBI stock holds potential after 13% drop from life high, up to Rs 171 per share gain seen: Emkay

Maharashtra ATS claims banned group PFI aimed to turn India into Islamic state by 2047

Closing Bell: Sensex ends 140 points up, Nifty with marginal gains as Adani Group stocks drag markets

Top Gainers & Losers: Asian Paints and Infosys lead rally, JSW Steel dips over 1% - check target price

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
© 2023. India Dot Com Private Limited. All Rights Reserved.
LIVE TV