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Buy Indian Hotels Company; target of Rs 380: Sharekhan

Sharekhan is bullish on Indian Hotels Company has recommended buy rating on the stock with a target price of Rs 380 in its research report dated September 23, 2022.

September 24, 2022 / 01:04 PM IST
 
 
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Sharekhan's research report on Indian Hotels Company


Strong industry tailwinds, scale-up in new ventures and lean balance sheet makes it a strong play in the hospitality space. Sustained high domestic leisure travel demand and a likely pick-up in foreign tourist arrivals (FTAs) will drive up room demand and occupancies in the near term. Occupancy ratio would stay close to Q1 levels in Q2 as well despite being a lean season. Average domestic room rentals will stay high as room demand would exceed room supply in the medium term. IHCL plans to open 18 hotels every year to drive demand; large expansion will happen through management contracts.



Outlook


We retain our Buy recommendation on Indian Hotels Company (IHCL) with revised price target of Rs. 380 (rolling it over to September 2024 EV/EVBIDTA).


More Info


At 17:30 Indian Hotels Company was quoting at Rs 326.75, down Rs 7.00, or 2.10 percent.


It has touched an intraday high of Rs 336.20 and an intraday low of Rs 323.55.


It was trading with volumes of 263,440 shares, compared to its thirty day average of shares, a decrease of percent.


In the previous trading session, the share closed up 2.39 percent or Rs 7.80 at Rs 333.75.


The share touched its 52-week high Rs 337.30 and 52-week low Rs 169.32 on 16 September, 2022 and 24 September, 2021, respectively.


Currently, it is trading 2.86 percent below its 52-week high and 93.51 percent above its 52-week low.


Market capitalisation stands at Rs 46,411.56 crore.


For all recommendations report, click here


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Indian Hotels Company - 240922 -khan

Broker Research
first published: Sep 24, 2022 01:04 pm