ICICI Direct has given Hold recommendation for Oriental Hotels with a target price of Rs. 80 in its research report issued on Apr 19, 2022

ICICI Direct’s research report on Oriental Hotels

Oriental Hotel (OHL) operates in South India with Indian Hotels Company (IHCL) being one of the promoter entities. The company owns and operates seven hotels with ~825 rooms across business & leisure locations in the south. It derives majority of revenues from two of its properties in Chennai 1) Taj Coromandel 2) Taj – Fisherman’s Cove. Tata Group companies hold ~39.1% stake in OHL and the company is an associate of IHCL (28.6% stake). Apart from the ownership, the company has strong operational and financial linkage with IHCL.


We remain positive on the company and maintain our BUY rating. We value the company at Rs 80 i.e.21x FY24E EV/EBITDA or Rs 2.0 crore EV/room (vs. earlier target price of Rs 73/share).

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At 16:01 hrs Oriental Hotels was quoting at Rs 62.05, down Rs 0.90, or 1.43 percent.

It has touched an intraday high of Rs 64.25 and an intraday low of Rs 62.05.

It was trading with volumes of 62,610 shares, compared to its thirty day average of 174,793 shares, a decrease of -64.18 percent.

In the previous trading session, the share closed down 5.69 percent or Rs 3.80 at Rs 62.95.

The share touched its 52-week high Rs 69.95 and 52-week low Rs 21.10 on 06 April, 2022 and 19 April, 2021, respectively.

Currently, it is trading 11.29 percent below its 52-week high and 194.08 percent above its 52-week low.

Market capitalisation stands at Rs 1,108.21 crore.

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