Enter in Indian Hotels: Joshi

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Enter in Indian Hotels: Joshi

Sharmila Joshi of Asit C Mehta is of the view that one can enter in Indian Hotels.

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Excerpts from Your Stocks on CNBC-TV18 Watch the full show » RELATED NEWS Indian Hotels doubling room count to 13,000 ALSO READ See previous views by Sharmila Joshi See what other Experts & Brokerages are saying about Indian Hotels See messages about Indian Hotels Indian Hotels BSE | NSE 28/05/12 Are Mutual Funds betting on Indian Hotels?

Sharmila Joshi of Asit C Mehta is of the view that one can enter in Indian Hotels .

Joshi told CNBC-TV18, "As a sector the hotel industry is fine given the kind of demand now and there is a perceived shortage of rooms. In fact the hotel industry as a whole has capex plan of about 4,500 crore and Indian Hotel have 1,250 crore capex plan going ahead. With the Commonwealth Games coming up we are going to see increase activity in the NCR region. So as an industry I am very comfortable but I don't know about the short-term movement."

She further added, "As far as Indian Hotel goes there are 2-3 things going for them. One is the overseas acquisition then the Ginger Hotel, which is their smart basics concept and has 7 centers. This is going to get ramp up to 25. So there are a lot of things happening at different levels for Indian Hotel. So it is in the valuation band on the higher side as compare to a lot of other hotels mainly because it's viewed as one of the better hotels stocks. So it's a stock you can enter but I can't talk of any return in the short term."