Char Sau Bees Munaapha In 1 Day: Lesser Known Tata Stock Trades Over 50-Day To 200-Day SMA; Technical Analysis

Benares Hotels is lesser popular compared to other Tata renowned stocks. Yes, you've read it right the largest conglomerate in India is actually a large shareholder of this hotel and resort stock. On Monday, this smallcap stock rose by a whopping Rs 420 in a single day, surging by at least 4.5% in percentage terms compared to previous print on BSE. This stock is currently near its Rs 10,000 mark.

After rising by Rs 420 apiece, the stock ended at Rs 9,471.85 apiece, up by 0.98% on BSE with a market cap of Rs 1,231.34 crore.

Although a smallcap, Benares Hotels is among the most expensive shares in India. The stock price started its journey from as low as Rs 97 in mid-July of 1995. But just like every other Tata stock which has given fruitful gains to its investors in the longest run, Benares shares have not disappointed as well.

The all-time high of Benares share is 9,621.65% on BSE. While its 5-year upside is over 601%, and 1-year gains are nearly 180%. In the last six months, the stock has gained by a whopping 87%.

The 52-week high and low of Benares is Rs 10,051.00 and Rs 3,050 apiece.

As per the BSE data, Benaras has a strong return on equity of 29.04%, while its price-to-equity ratio is at 38.43x. The stock's earnings per share is at Rs 246.45.

As per Trendlyne data, Benares stock's technical analysis is green or normal signals. The day momentum score is 66.65 for the stock which is technically moderately strong. While its RSI is at 52.4 and MFI at 58.8, which are in the normal range.

The stock is currently trading above its 5-day SMA of Rs 9442.6, 50-Day SMA of Rs 8,940.5, 100-day SMA of Rs 7,591.5, 150-Day SMA of Rs 6,826.5 and 200-day SMA of Rs 6,113.9. The stock is buzzing closer to its 10-Day, 20-Day, and 30-Day SMAs which are in the range of Rs 9523.7 to Rs 9657.5. Hence, Benares is trading above 5 out of 8 SMAs.

The stock is trading above 4 out of 9 Oscillators in a bullish zone. Currently, the stock is higher by 211% from its 52-week lows of Rs 3,050 apiece. Additionally, its weekly average delivery volume is 77.29%.

Overall, the technical status of Benares looks stable!

Benaras has also reported strong Q3 results for FY24. In the third quarter of the current fiscal, the company reported a PAT of Rs 11.3 crore versus Rs 8.3 crore in Q3FY23. EBITDA came in at Rs 16.7 crore in Q3FY24, higher compared to Rs 12.7 crore in the same quarter a year ago. While revenue from operations zoomed to Rs 34.5 crore in Q3FY24, as against Rs 28.6 crore in Q3FY23.

In the nine month period of FY24, the company's net profit was at Rs 24.4 crore versus Rs 15.8 crore in the corresponding period of the same year. Revenue from operations stood at Rs 87.2 crore in 9MFY24, compared to Rs 66.8 crore a year ago same period.

Tata Group holds stakes in Benares through its hotel flagship, Indian Hotels. Before May 2011, Benares was lesser known. But in May, it became a subsidiary of The Indian Hotels Company Limited, a company promoted by Tata Sons Private Limited. Benares gained attention with its new hotel branch under the Indian Hotels, namely Taj Ganges and Taj Nadesar Palace in Varanasi, followed by the rebranding of its The Gateway Hotel in Maharashtra to Ginger Hotel.

Disclaimer: The write-up just highlights the stock's performances and technical factors, and is not a recommendation to buy, sell or hold. We have not done fundamental or technical analysis and have no opinion on the stock mentioned. Neither, the author nor Greynium Information Technologies should be held liable for any losses. Please consult a professional advisor.