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    HomeNewsBusinessStocksBuy Indian Hotels; target of Rs 440: Motilal Oswal

    Buy Indian Hotels; target of Rs 440: Motilal Oswal

    Motilal Oswal is bullish on Indian Hotels recommended buy rating on the stock with a target price of Rs 440 in its research report dated July 27, 2023.

    Broker Research
    July 31, 2023 / 21:55 IST
    Buy

    Buy

     
     
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    Motilal Oswal's research report on Indian Hotels

    Indian Hotels (IH) reported consolidated revenue growth of 16% YoY, aided by strong growth in standalone ARR (up 11% YoY) and better occupancy (up 430bp YoY). EBITDA grew 9% YoY due to high operating expenses in 1QFY24 vs. a lower base YoY. Consolidated management contract revenue grew 20% YoY to INR980m in 1QFY24.

    Outlook

    We maintain our FY24/FY25 EBITDA estimates and retain BUY with our SoTP-based TP of INR440.

    For all recommendations report, click here

    Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

    Indian Hotels - 28 -07 - 2023 - moti

    Broker Research
    first published: Jul 31, 2023 09:55 pm

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