IIFL has buy call on Indian Hotels Company with a target price of Rs 185. The current market price of Indian Hotels Company is Rs 173.1. Which may not seem like the best move in the current situation as the pandemic has made the tourism industry come to its knees.
But things are seemingly looking good for this calculated risk as the time period given by analyst is Intra Day when Indian Hotels Company price can reach defined target. The Target by itself being achieved is a massive win for this company. This is a massive financial commit to be making at this time but that also looks like the way forward in the industry.
Indian Hotels Company Ltd., incorporated in the year 1902, is a Mid Cap company (having a market cap of Rs 20586.06 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.
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.
This profit is massive and it will help the company with the future of its hotels growths.
Stock has given a flag pattern breakout on the hourly chart. This makes it easier to follow the growth so the stock as well for the company to keep track.
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.