Anand Rathi has given Buy recommendation for Indian Hotels with a target price of Rs. 254 in its research report issued on Feb 04, 2022

Anand Rathi’s research report on Indian Hotels

Its strong leisure division growth, recovery in business travel and good cost management pushed Indian Hotels’ Q3 FY22 results ahead of street estimates. Sound recovery in its key business metrics offer assurance of the strength of the franchise. ARR is expected to be strong due to room-supply constraints for the industry and recovery in international and business travel. The focus on scaling up the high-margin new-age businesses, along with cost savings and operating leverage, would drive profitability and returns over FY22-24. With its superlative brand equity and aptly-diversified portfolio across business segments and price-points, the company is well set to capitalise on a recovery in the economy.

Outlook

We maintain our Buy rating, with a revised sum-of-parts target price of Rs254 (earlier Rs237).

More Info on Trent

At 17:30 Indian Hotels Company was quoting at Rs 206.55, down Rs 8.60, or 4.00 percent.

It has touched an intraday high of Rs 214.55 and an intraday low of Rs 205.35.

It was trading with volumes of 366,135 shares, compared to its thirty day average of 364,452 shares, an increase of 0.46 percent.

In the previous trading session, the share closed up 1.18 percent or Rs 2.50 at Rs 215.15.

The share touched its 52-week high Rs 230.25 and 52-week low Rs 90.94 on 14 October, 2021 and 22 April, 2021, respectively.

Currently, it is trading 10.14 percent below its 52-week high and 127.51 percent above its 52-week low.

Market capitalisation stands at Rs 27,293.30 crore.

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