Multibagger Tata stock hits life-time high on sixth day in a row. Do you own?
Premium- Multibagger Tata stock has delivered 115 per cent return to its shareholders in last one year
Multibagger stock: Despite key benchmark indices BSE Sensex and Nifty 50 giving muted returns to the stock market investors, majority of the Tata group shares have delivered stellar return to its shareholders in this time horizon. In fact, some of them have given multibagger return to its positional shareholders in last one year. Indian Hotels Company shares are one of those multibagger stocks that Dalal Street has produced in last one year. In last one year, this multibagger hospitality stock has given 115 per cent return and the story doesn't end here only.
This Tata group hospitality stock has been hitting life-time high for last six sessions. Indian Hotels share price today opened upside and went on to climb to its new life-time high of ₹307.20 apiece on NSE. In last six sessions, this Tata group stock has risen from around ₹273 to ₹307 apiece levels, delivering around 12 per cent return to its shareholders in this short time. So, by hitting new life-time high in all six sessions, the stock has surged more than 12 per cent.
Recently ICRA has upgraded its rating in regard to Indian Hotels Company that the Tata group informed in its latest exchange filing citing, "We would like to inform that ICRA Limited has: (i) Revised (i.e. upgraded) the long-term credit rating of the below Non-Convertible Debentures (NCDs). However, since these NCDs have already been repaid on their maturity, ICRA Limited has withdrawn the rating on the same as there is no amount outstanding against these NCDs. (ii) Assigned a fresh rating of AA+(Stable) for a bank overdraft facility/WCDL of Rs. 15 crores."
The upgrade in the rating factors are based on the improvement in the capitalisation metrics and cash flow position of The Indian Hotels Company Limited (IHCL/the company), following the fund raising in FY2022, and significant improvement in operating metrics in Ql FY2023. IHCL raised equity of ₹3,982.0 crore in FY2022 via rights issue and qualified institutional placement (QIP), the proceeds of which were primarily utilised for debt reduction.
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In last one year key benchmark indices have delivered much lower returns than this multibagger Tata stock. In last one year, Nifty 50 and BSE Sensex have delivered near 1.70 per cent returns whereas BSE Small-cap index has surged around 6 per cent in this period. BSE Mid-cap has given around 4.75 per cent return to the stock market investors in this period. Hence, Indian Hotels shares have beaten key benchmark indices by huge margin after giving around 115 per cent return in last one year.
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