Buy Call: Multibagger Tata Group Hotel Stock Zooms 28% YTD, Analyst Sees More Rally; TP Rs 640

Brokerage firm LKP Securities has recommended buy call to Tata Group hotel company, Indian Hotels Co Ltd share (IHCL) with target price of Rs 640 per share and keep the stop loss at Rs 570. Current market price of Indian Hotels Co shares on BSE is Rs 557.15 apiece with intraday dip 1.15%. Indian Hotels Co Ltd shares offered return of 28% year-to-date and declined a little over 5% in last 2-weeks. The company has a market capitalisation of Rs 79,306.53 crore. Below are the details pertaining to Indian Hotels Co:

LKP Securities Upbeat On Indian Hotels Co Shares: The analyst appears upbeat on Indian Hotels Co stock and assigned buy call. LKP said that Indian Hotels Co witnessed a breakout from a flag pattern on daily chart reflecting significant rise in investors optimism. Additionally, Indian Hotels Co constantly traded above the crucial moving average. In the upward direction, Indian Hotels Co shares indicate a significant move towards 640, with support established at Rs 570.

Indian Hotels Co Shares Performance & Return: The 52-week high price of Indian Hotels Co shares on BSE is Rs 602.75 per share and 52-week low price is Rs 302.30. Indian Hotels Co shares gave return of 37% in last 6-months, soared 77% in last 1-year, and gave return of 167% in last 2-years. In last 3-years, Indian Hotels Co stock zoomed 400% and gained 288% in last 5-years.

IHCL Invests In Zarrenstar: Large cap Tata Group company Indian Hotels Co Ltd (IHCL) on Tuesday informed via its BSE filing about investing Rs 35 crore (Rupees Thirty - Five Crores) in the equity shares of Zarrenstar Hospitality Private Limited (WhollyOwned Subsidiary) by way of subscription to Rights Issue. Zarrenstar Hospitality Private Limited (Wholly- Owned Subsidiary) is presently developing a hotel at Cochin International Airport. It had a turnover of Rs 0.003 Crores as on March 31, 2023, added the BSE filing of IHCL.

Earlier Indian Hotels Company announced the inking of two Taj-branded resorts in Lakshadweep. "The Greenfield projects are slated to open in 2026, and will be developed by IHCL," said Indian Hotels Company (IHCL). "We see significant potential in Lakshadweep, with its pristine beaches and coral reefs set amongst the Arabian Sea," Puneet Chhatwal, IHCL MD and CEO, said while declaring the inking of resorts last year. "The two world-class Taj resorts will attract international as well as national travellers."

Rekha Jhunjhunwala Has Stake In Indian Hotels: Ace investor Rekha Jhunjhunwala has 2.11% stake in Indian Hotels stock and holds 30016965 shares of the company with the net worth of Rs 1203.4 crore as of September 30, 2023 quarter, according to data available at BSE and Trendlyne.

Indian Hotels Co Financials: The company announced a surge of 18% in its consolidated profit after tax (PAT) at Rs 451.95 crore for the quarter ended December 31, 2023 amid robust performance across all the verticals. The renowned hospitality company's PAT was declared at Rs 382.71 crore in the corresponding quarter of last year, as per the BSE filing. Its revenue from operations soared 16.49% to Rs 1963.84 crore for December 2023 quarter as compared to Rs 1685.80 crore in the similar quarter last fiscal.

Indian Hotels Co Stock Split History: Indian Hotels Co split the face value once since October 27, 2006 to make the stock affordable. Indian Hotels Company Ltd split the face value of its shares from Rs 10 to Re 1 in 2006.The share traded ex-split on October 27, 2006.

Indian Hotels Company About: 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, according to its official website.

Disclaimer: The stock has been picked from the brokerage report of LKP Securities. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.