Buy Lemon Tree Hotels, target price Rs 50: Yes Securities

Yes Securities has buy call on Lemon Tree Hotels with a target price of Rs 50. The current market price of Lemon Tree Hotels Ltd. is Rs 45.25. Time period given by analyst is Intra Day when Lemon Tree Hotels Ltd. price can reach defined target.

Lemon Tree Hotels Ltd., incorporated in the year 1992, is a Mid Cap company (having a market cap of Rs 3584.92 Crore) operating in Tourism & Hospitality sector.

Financials
For the quarter ended 31-03-2021, the company reported a Consolidated Total Income of Rs 96.97 Crore, up 33.33 % from last quarter Total Income of Rs 72.73 Crore and down -45.07 % from last year same quarter Total Income of Rs 176.54 Crore. Company reported net profit after tax of Rs -24.65 Crore in latest quarter.


Investment Rationale
After a 14% decline from the June peak, the stock rebounded from the support zone. Appearance of another bullish candle infers resumption of uptrend.

Promoter/FII Holdings
Promoters held 25.9 per cent stake in the company as of March 31, 2021, while FIIs held 23.1 per cent, DIIs 15.3 per cent and public and others 35.7 per cent.