Buy EIH, target price Rs 113: ICICI Securities

ICICI Securities has buy call on EIH with a target price of Rs 113. The current market price of EIH is Rs 100.35.
EIH Ltd., incorporated in the year 1949, is a Mid Cap company (having a market cap of Rs 6259.90 Crore) operating in Tourism & Hospitality sector.

Financials
For the quarter ended 31-12-2020, the company reported a Consolidated sales of Rs 179.16 Crore, up 149.11 % from last quarter Sales of Rs 71.92 Crore and down -64.84 % from last year same quarter Sales of Rs 509.55 Crore. Company reported net profit after tax of Rs -42.92 Crore in latest quarter.


Investment Rationale
Stock forming a higher base at the rising demand line joining lows since July 2020 and 52 weeks EMA thus provides favourable risk reward set up