1:10 Split: Tata's 122-Year-Old Hotel Gaint To Declare Dividends, Q4 Earnings Soon: Technical View On Stock!

Indian Hotels Ltd, the 122-year-old company of Tata Group, having a franchise of Taj hotels across the country, has announced the date for its Q4 results. The company is also mulling to recommend dividends for FY24. Prabhudas Lilladher has given a technical view on this hotel giant stock.

In its regulatory filing, Indian Hotels said, "We wish to inform you that a Meeting of the Board of Directors of the Company will be convened on April 24, 2024, for considering the following matters:

- The Audited Standalone and Consolidated Financial Results for the year ended March 31, 2024.

- Recommendation of dividend for the financial year 2023/24, if any."

Indian Hotels' share price ended at Rs 583.45 apiece, down by 2.37% on BSE with a market cap of Rs 83,050.15 crore. The stock's 52-week high and low is at Rs 622.25 apiece, and Rs 326.05 apiece respectively.

YTD, Indian Hotels shares have gained 33.76% on BSE. In a year, the stock gained by 75.61% on BSE.

Technical View On Indian Hotels:

Vaishali Parekh, Vice President- Technical Research at Prabhudas Lilladher said, "The stock has indicated a negative divergence on the daily chart with the RSI slipping down with a negative trend reversal pattern."

Parekh added, "The stock has witnessed some profit booking and is expected to slide till 555-545 zone which is near the significant 50EMA level. Our view shall be negated once a decisive breach above 625 is confirmed where the bias shall turn positive overall."

So far, Indian Hotels has delivered 22 dividends since July 2001. In the last 12 months, the company paid up to Rs 1 dividend per share.

Indian Hotels have also carried one stock split. The face value of equity shares is split from Rs 10 each to Rs 1 each. It was carried out in October 2006.

IHCL and its subsidiaries bring together a group of brands and businesses that offer a fusion of warm Indian hospitality and world-class service.

These include Taj - the iconic brand for the most discerning travellers and ranked as the World's Strongest Hotel Brand and India's Strongest Brand across sectors as per Brand Finance Hotels 50 Report 2022 and India 100 Report 2022 respectively; SeleQtions, a named collection of handpicked, storied hotels; Vivanta, a chain of contemporary upscale hotels that celebrate joie de vivre; Ginger, a brand that is revolutionizing the lean-luxe segment, and amã Stays & Trails, a charming portfolio of private bungalows and villas set in picturesque locales.