'While the concept was introduced globally over four decades ago, branded residences have taken off now in India.'
The promoters who own the Leela brand will also be transferring the label to Brookfield for all hospitality businesses.
The property was acquired by RIL for around Rs 172 crore
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
Most of the hospitality majors have reported occupancy of over 90 per cent this year, against 70-80 per cent last year.
Excerpts from CNBC-TV18's exclusive interview with Sushil Gupta and Vivek Nair.
The Nifty and Bank Nifty ended at record closing high of 7,913 and 15,865 respectively.
The broader markets are, however, outperforming the larger peer.
The firm, which owns, operates and manages hotels, palaces and resorts, is likely to hive-off the two properties into separate entities.
Investors indulged in buying beaten down blue chips at lower and attractive levels.
Nifty50 surged 87 points to end at 8,157, highest closing levels since Oct 29, 2015.
Ajit Mishra, Vice President, Research, Religare Broking, answers readers' stock market queries. Ajit will offer his unbiased views on a weekly basis
Act says remuneration to directors and key managerial personnel should involve a balance between fixed and incentive pay.
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