Buy Indian Hotels Company, target price Rs 158: Chandan Taparia

Chandan Taparia of Motilal Oswal Securities has buy call on Indian Hotels Company with a target price of Rs 158.
The current market price of Indian Hotels Company Ltd. is Rs 150.8.

Time period given by analyst is Intra Day when Indian Hotels Company Ltd. price can reach defined target.
Indian Hotels Company Ltd., incorporated in the year 1902, is a Mid Cap company (having a market cap of Rs 17934.02 Crore) operating in Tourism & Hospitality sector.


Indian Hotels Company Ltd. key Products/Revenue Segments include Income from Rooms, Restaurants & Other Services for the year ending 31-Mar-2021.

Financials
For the quarter ended 30-06-2021, the company reported a Consolidated Total Income of Rs 370.30 Crore, down -40.89 % from last quarter Total Income of Rs 626.47 Crore and up 111.19 % from last year same quarter Total Income of Rs 175.34 Crore. Company reported net profit after tax of Rs -270.05 Crore in latest quarter.

Investment Rationale
Managed to give a decisive close above 150 along with increased volume

Promoter/FII Holdings
Promoters held 40.8 per cent stake in the company as of June 30, 2021, while FIIs held 12.6 per cent, DIIs 28 per cent and public and others 18.7 per cent.