Indian Hotels Share price: It is becoming difficult for investors to find better stocks amid the weak quarterly results of companies. In such a situation, if you are looking for a better stock at this time, then you can keep an eye on the shares of Tata Group company Indian Hotels Company Limited. The company has recently released strong results in the July-September quarter, after which its shares are being bought heavily. Last Friday, its shares saw a strong rise of 7.23 percent and the stock closed at Rs 733.05 on BSE.
How were the quarterly results of Indian Hotels?
There has been a huge jump of 232 percent in the consolidated net profit of Indian Hotels Company in the July-September quarter. The company earned a profit of Rs 554.6 crore during the period, compared to Rs 167 crore in the same quarter last year.
Indian Hotels Company’s revenue increased by 27.4 percent to Rs 1,826 crore during the September quarter. Revenue in the same quarter a year ago was Rs 1433 crore. The total income of the company increased to Rs 1890.2 crore in the current quarter from Rs 1890.2 crore.
The company’s expenses during the September quarter increased to Rs 1,502 crore from Rs 1,248.68 crore in the year-ago period. During this period, the company’s EBITDA stood at Rs 501.27 crore, which was Rs 354.78 crore in the same period a year ago, which is an increase of 41.3 percent.
What is the target price of Indian Hotels?
According to the brokerage firm, the shares of Indian Hotels Company may see a rally in future also. Brokerage firm Motilal Oswal in its research report dated November 7, 2024 has expected a rise in the company’s shares. The brokerage has given Buy rating to the stock and set a target price of Rs 770. According to this, there is a possibility of further rise of 5 percent in the company’s shares.
Indian Hotels gave 665% return in 5 years
The 52-week high of Indian Hotels shares is Rs 742.60 and 52-week low is Rs 403.10. With Friday’s rise, the company’s market cap has increased to Rs 1.04 lakh crore. The company’s shares have increased by three and a half percent in the last one month. However, in the last 6 months it has given a return of 34 percent. The company’s shares have fallen 67 percent so far this year. In the last one year, its investors have got a strong return of 78 percent. Not only this, it has made a huge profit of 665 percent in the last 4 years.
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