Buy Indian Hotels, target price Rs 140: IIFL

IIFL has buy call on Indian Hotels Company with a target price of Rs 140. The current market price of Indian Hotels Company Ltd. is Rs 128.5.

Indian Hotels Company Ltd., incorporated in the year 1902, is a Mid Cap company (having a market cap of Rs 15591.18 Crore) operating in Tourism & Hospitality sector.

Indian Hotels Company Ltd. key Products/Revenue Segments include Income from Rooms, Restaurants & Other Services which contributed Rs 2743.47 Crore to Sales Value (100.00 % of Total Sales)for the year ending 31-Mar-2020.

Financials
For the quarter ended 30-09-2020, the company reported a Consolidated sales of Rs 256.67 Crore, up 78.73 % from last quarter Sales of Rs 143.61 Crore and down -74.52 % from last year same quarter Sales of Rs 1007.44 Crore Company has reported net profit after tax of Rs -219.70 Crore in latest quarter.

Investment Rationale
Stock has given a Flag pattern breakout on the daily chart.

Promoter/FII Holdings
Promoters held 40.8 per cent stake in the company as of Sept 30, 2020, while FIIs held 10.5 per cent, DIIs 31.5 per cent and public and others 17.3 per cent.