Masterstroke by Tata Group, plans to take a MASSIVE move, likely to develop ‘eco-tourism’ resorts in…, shares expected to jump…
New Delhi: With an aim to boost the tourism in Andaman and Nicobar Islands, Tata Group’s company — Indian Hotels Company Limited (IHCL) — has shown keen interest in developing ‘eco-tourism’ resorts at four locations. According to the reports, several other leading hotel companies, including Hyatt Hotels, have also shown interest in the project. Reports further add that these resorts will be built on Neil Island, Aves Island, Long Island, and Smith Island.
During the meeting, Chanchal Yadav, Managing Director of NIIDCO, informed that investors were given the opportunity to share suggestions and ask questions. She said, “Our goal is to make the Andaman and Nicobar Islands a global destination for nature-based and sustainable tourism.” In the first week of September, investors will be taken on a tour of the project sites.
Here are some of the key details:
- This project will be based on the Public-Private Partnership (PPP) model.
- The administration also plans to redevelop the Megapode Resort in Port Blair in a new format.
- The Andaman and Nicobar Islands Integrated Development Corporation Limited (ANIIDCO) had invited tenders on July 28.
- A meeting was held via video conference on August 14, in which companies such as The Leela, Club Mahindra, Hyatt, Ambuja Neotia Hospitality, Chalet Hotels, Juniper Hotels, The Park, Polo Hotels, and the GVK Group participated.
- Talking about Indian Hotels Company Limited, its share is currently at the level of ₹775.
- Last Thursday, the stock saw a slight rise. The stock has already touched the level of ₹895, which is its 52-week high.
- The 52-week low is ₹599.45, which was in August 2024.
- In June, brokerage firm Jefferies had set a target price of ₹980 for the stock.
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