Buy This Mid Cap Tata Stock For Target Price Of Rs 367, Hits New 52-Week High: LKP Securities

LKP Securities has given a buy rating to the stock of Indian Hotels Company Ltd for a target price of Rs 367 with a potential return of 9.23%. The stock hit its new 52-week high today as share markets witness a decline. BSE Sensex shed 638 points to end at 56788 while NSE Nifty fell by 207 points to settle at 16887. Check key takeaways below:

1. Indian Hotels Company Ltd Stock Outlook

The current market price of the stock is Rs 336 apiece on BSE with an intraday gain of 1.52%.

2. Indian Hotels Company Ltd Hit New 52-Week High

The stock's 52-week high is Rs 346 apiece and 52-week low is Rs 171 apiece, respectively. The stock climbed its new 52-week high today. The stock opened at Rs 333 apiece, touched intraday high at Rs 346 apiece and intraday low at Rs 331 apiece.

3. Indian Hotels Company Ltd Market Capitalisation

The company has a market capitalization of Rs 47,839.06 crore as on October 3, 2022.

4. Indian Hotels Company Ltd 5-Years Return

The Tata Group stock has given multibagger returns to investors with 5-years return at 176%, 3-years return at 117%, and 1-year return at 83%.

5. Indian Hotels Company Ltd Latest Quarterly Result

The company for the quarter ended June 30, 2022 declared a consolidated total income of Rs 1293 crore, up 35% from previous quarter total income of Rs 954 crore. It declared a net profit after tax at Rs 166 crore in the latest quarter.

6. Indian Hotels Company Ltd About

The mid cap company was incorporated by the founder of the Tata Group, Jamsetji Tata. It opened its first hotel - The Taj Mahal Palace, in Bombay in 1903. IHCL has a portfolio of 196 hotels including 40 under development globally across 4 continents, 12 countries and in over 80 locations.

The Indian Hotels Company Limited (IHCL) is South Asia's largest hospitality company by market capitalization. It is primarily listed on the BSE and NSE.

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.