• Indian Hotels sees loss

Indian Hotels Company reported a pre-tax loss of Rs8.14 crore (£1.2m) against a profit of Rs18.73 crore in the same period last year.

Net sales rose to Rs328 crore from Rs286 crore, due in part to the reopening of the Heritage Wing of the Taj Mahal Palace in Mumbai after a restoration. The group confirmed plans to issue up to 36,000,000 shares with a face value of Re.1 each in the financial year 2010/2011.

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