Buy Multibagger Tata Stock Ahead Of Dividend In April, TP Rs 679: Sharekhan, YTD Gain 37%

Sharekhan has recommended traders to invest in Tata Group hotel company Indian Hotels Co Ltd shares with target price of Rs 679 per share as the company has chartered a strong growth plan to be achieved by FY2025-26 with a strong improvement in cash flows and strengthening balance sheet to become debt-free.

Current market price of Indian Hotels share price on BSE is Rs 596.55 per share. Indian Hotels Share offered over 44% return in last 6-months and surged 522% in last 3-years.

IHCL To Consider Dividend: As per the regulatory filing of the company, "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 Dividend History: Indian Hotels Company Ltd announced 22 dividends since July 30, 2001. In last 12 months, Indian Hotels Co Ltd announced an equity dividend amounting to Rs 1.00 per share. At the current share price of Rs 596.6500, Indian Hotels Company offers a dividend yield of 0.17%, according to Trendlyne.

Indian Hotels Technical: Score is 62.75 indicating stock is technically moderately strong. Stocks with score between 60 and 70 are considered as technically moderately strong. RSI is 49.9, RSI below 30 is considered oversold and above 70 overbought. MFI is 65.1, MFI below 30 is considered oversold and above 70 overbought. MACD is above its Center Line, but below signal line. Mutual Funds have decreased holdings from 18.16% to 17.16% in December 2023 quarter. Number of FII/FPI investors decreased from 789 to 760 in December 2023 quarter. Number of MF schemes increased from 32 to 37 in Dec 2023 quarter. Institutional Investors have raised holdings from 45.45% to 45.62% in December 2023 quarter. Hdfc Life Insurance Company Limited has 1.49% stake in IHCL with 21,142,229 shares.

Investment in 1000 Shares 2 Years Ago Would Give Rs 105945.7 Profit: If you bought Indian Hotels Company shares 2 years ago on April 18, 2022 at the cost of Rs 246.50/share, your corpus would be today at Rs 352445.7 with profit at Rs 105945.7.
Indian Hotels Company Stock Split History: Indian Hotels Company last split face value of its shares from Rs 10 to Rs 1 in 2006. Indian Hotels shares traded ex-split from October 27, 2006.

Rekha Jhunjhunwala Has 2.11% Stake In Indian Hotels: It is worth mentioning that leading 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 Stock Performance & Return: Indian Hotels Stock Performance & Return: Current market price of Indian Hotels stock on BSE is Rs 598.75 per share. The 52-week high price of Indian Hotels share on BSE is Rs 622.25 per share (as on 04/04/2024) and 52-week low price is Rs 326.55 apiece (as on 18/04/2023), respectively. It market capitalisation is 85,107.01 crore. Indian Hotels shares gained 37% year-to-date, jumped 45% in last 6-months, soared 81% in last 1-year, and gave return of 143% in last 2-years. In last 3-years, Indian Hotels shares surged 522% and 301% in last 5-years.

Indian Hotels Valuation: According to the Sharekhan, "EBITDA margins will consistently improve in coming years. With strong room inventory, IHCL is the best pick to capture strong growth momentum in domestic tourism in the coming years. The stock trades at 33x/27x/22x its FY2024E/25E/26E EV/EBIDTA. We maintain a Buy recommendation on the stock with a revised price target of Rs. 679."

Key Risk: Any slowdown in corporate travel or a slower recovery in inbound and outbound tourism industry would act as a key risk to our earnings estimates, added Sharekhan

Disclaimer: The stocks has been picked from the brokerage report of Sharekhan. 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.