New Delhi, March 7 -- Shares of Kamat Hotels (India) climbed 11% in today's intraday trade, March 7, reaching Rs.314.90 apiece, moving closer to its 1-year high of Rs.318.75, after the company signed a management agreement to manage and operate the 54-room Orchid Hotel in Rishikesh, Uttarakhand.

"The hotel shall feature approximately 54 elegantly designed rooms with facilities such as a state-of-the-art high-end spa, a swimming pool, a modern recreational center, a dedicated yoga center, a fully equipped conference room, an exquisite 24-hour all-day dining restaurant, and a mountain-view bar, among others," the company stated in its exchange filing today.

The hotel is expected to commence operations by July 2025. Mr Vishal Kamat, Execut...