ICICI Direct has given Buy recommendation for Indian Hotels with a target price of Rs. 170 in its research report issued on Aug 12, 2021

ICICI Direct’s research report on Indian Hotels

With room inventory of 19,425 rooms, Indian Hotels occupies a diversified position in the hotel industry through brands such as Taj, Vivanta, SeleQtions and Ginger brands. IHCL also has a selective presence in the luxury segment in the US, UK, Africa, Sri Lanka, the UAE and Maldives through owned/managed properties The company enjoys strong support from its key promoter Tata Sons and is also an important strategic business for the Tata Group

Outlook

We remain positive on the company and maintain our BUY rating We value IHCL at Rs 170 i.e. 23x FY23E EV/EBITDA.

 

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