Buy EIH, target price Rs 156: ICICI Direct

ICICI Direct has buy call on EIH with a target price of Rs 156.0. The current market price of EIH is Rs 145.65 Time period given by analyst is 14 days when EIH price can reach defined target.

EIH Ltd., incorporated in the year 1949, is a Mid Cap company (having a market cap of Rs 9083.41 Crore) operating in Tourism & Hospitality sector.

EIH Ltd. key Products/Revenue Segments include Beverages & Food, Income (Room Rent), Other Services and Printed Materials for the year ending 31-Mar-2021.



Financials
For the quarter ended 30-06-2021, the company reported a Consolidated Total Income of Rs 110.65 Crore, down -52.05 % from last quarter Total Income of Rs 230.77 Crore and up 147.98 % from last year same quarter Total Income of Rs 44.62 Crore. Company reported net profit after tax of Rs -96.92 Crore in latest quarter.


Investment Rationale
The share price of EIH limited has witnessed strong buying demand from the support area of Rs 125 being the confluence of the recent four months range breakout area (Rs 123-100) and rising 20 days EMA (currently placed at Rs 125 levels signaling resumption of up move and offers fresh entry opportunity.

Promoter/FII Holdings
Promoters held 35.74 per cent stake in the company as of 30-Sep-2021, while FIIs owned 3.22 per cent, DIIs 13.96 per cent.