New Delhi, Oct. 31 -- Spice Lounge Food Works share price touched 5% upper circuit limit during Friday's session, despite a lackluster trend in the Indian stock market. Shares of Spice Lounge Food Works have garnered attention in the recent few days, following the board of directors' approval for a foray into luxury hospitality, which includes the acquisition of Rightfest Hospitality LLP and the consideration of acquiring a majority stake in Blackstone Management LLC.

On October 28, the Board of Directors of Spice Lounge Food Works convened to review and approve two significant proposals aimed at entering the luxury hospitality sector.

The board passed a resolution to acquire a 100% stake in M/s Rightfest Hospitality. This share acquisi...