IHCL shares rise nearly 2% on plans to acquire 51% stake in ANK Hotels and Pride Hospitality

Indian Hotels Company (IHCL) shares surged following the announcement of acquiring stakes in ANK Hotels and Pride Hospitality for ₹110 crore and ₹94 crore, respectively. These acquisitions will add 135 hotels under the Clarks Hotels & Resorts brand, with many to be rebranded as Ginger hotels.