Franklin Templeton Mutual Fund is bullish on Lemon Tree shares. Do you own?

Stock market today: Franklin Templeton Mutual Fund is bullish on Lemon Tree Hotels shares, as it raises its stake to 7.054%

Franklin Templeton Mutual Fund that through its various funds held about 8 6.953% stake in Lemon Tree Hotels Ltd, has now increased its stake to 7.054%, as per the release on the exchanges.

Franklin Templeton Mutual Fund as per the intimation to Lemon Tree as per its disclosure said that it has acquired 800,000 equity shares, which translated to 0.101% stake in the Lemon Tree Hotels.

Franklin Templeton Mutual Fund already held 55,085,238 shares, around 6.953% stake of Lemon Tree Hotels before it has acquired more stakes now.

With the fresh acquisition of stake Franklin Templeton Mutual Fund post acquiring shares and stakes though open market now holds 55,085,238 shares, which is equivalent to 7.054% stake of Lemon Tree Hotels

Various fuds that held stakes in Lemon Tree Hotels included Franklin India Balanced Advantage Fund, Franklin India Debt Hybrid Fund, Franklin India Equity Hybrid Fund< Franklin India pension fund, Franklin India Multi Cap Fund, Franklin India ELSS Tax Saver Fund, Franklin India Opportunities Fund, Franklin India Flexi Cap Fund and Franklin India Smaller Companies Fund

It is the Franklin India Opportunities Fund in which more equity shares of Lemon Tree Hotels have been bought, increasing stake in Lemon Tree from 1.451% to 1.552% stake.

Lemon Tree Hotels shares price also remains in volatile currently with consolidation and corrections in the markets. Lemon Tree Hotels share price that opened at ₹137.95 on the BSE on Friday, higher than previous days closing price of ₹137.70. Lemon Tree Hotels shares price however during the intraday trading sessions also dipped to lows of ₹135.20

Lemon Tree Hotels shares price is down around 10% in last one month with ongoing corrections as witnessed in the Nifty 50 index.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decisions.