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The dominance of Tata Group companies in the Indian Stock Market has always proved to be a profitable deal for investors. A giant in the hotel sector, famous for its excellent hospitality and ‘Taj Hotels’ brand in the country and the world. Indian Hotels Company Limited (IHCL) There was a tremendous surge in the shares of . After the company released excellent financial results for the second quarter of the financial year, investors bought heavily, due to which its shares jumped more than 5 percent in early trade. New high of Rs 793.70 But reached. This strong performance of the company has created a new stir in the stock market. Let us know in detail what are the main points of these quarterly results of Indian Hotels and what new target prices have been set for it by big brokerage firms in the country and abroad.
Indian Hotels’ net profit increased by 23% to Rs 349.49 crore in the second quarter.
This leading hospitality services company of Tata Group has recently announced its September quarter results, which have been much better than expected. According to the official information given by the company, Indian Hotels in the quarter under review Consolidated Net Profit increased by 23% year-on-year to Rs 349.49 crore. Has reached.
Whereas in the same quarter of the last financial year, the company had earned a net profit of Rs 284.92 crore. Due to the beginning of the festive season, booking of wedding season and continuous increase in demand for tourism in the country and abroad, a tremendous increase has been recorded in the occupancy and average room rate (ARR) of hotel rooms. On the basis of strong business performance, there has been a huge jump in the total income of the company, due to which the confidence of investors in this stock has become very strong in the market.
Brokerage firms increased target prices after strong quarterly results
After seeing these excellent and better than expected quarterly results of Indian Hotels, many leading brokerage firms of the country and the world have released their reports. Expressing confidence in the strong fundamentals of the company, all these major financial institutions have significantly increased the target price of its shares and have completely retained their ‘Buy’ rating:
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Jefferies: Global brokerage firm Jefferies has maintained its ‘buy’ rating on IHCL stock and Target price increased directly from Rs 875 to Rs 900 Is done. Jefferies believes that at the current market price, investors can get excellent returns of up to 18 percent in this stock.
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Goldman Sachs: This prestigious American brokerage firm also reiterated its ‘Buy’ rating. Target price increased from Rs 870 to Rs 890 Is done. This new target clearly indicates an increase of about 16.6 percent from the current market price.
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Macquarie: Macquarie has maintained its ‘Outperform’ rating and its Target price increased from Rs 840 to Rs 860 This has been done, which means that it may rise further by about 12.6 percent.
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Motilal Oswal: Domestic brokerage firm Motilal Oswal also showed its bullish thinking. Target price of Rs 870 Reiterated its ‘Buy’ rating with Rs.
Why are investors excited about investing in this share of Tata Group?
Stock market experts believe that this Tata Group company is proving to be a very strong investment option for the future. The trend of luxury tourism, business travel and destination wedding is increasing rapidly in India, the biggest benefit of which is being received by Indian Hotels, the company running brands like Taj, Vivanta and Ginger. The company is continuously expanding its portfolio and adding new hotels to its network.
After opening around Rs 762, the stock rose rapidly to reach a high of Rs 793.70 in early trade on Thursday. Considering the high target price given by brokerage firms, market experts predict that this stock can give even better returns to investors in the coming months. However, before making any investment in the stock market, investors must consult their financial advisor.