Indian Hotels shares up 0.46% as Sensex rises

Shares of Indian Hotels Company Ltd. gained 0.46 per cent to Rs 319.2 in Wednesday's session as of 01:00PM (IST) even as the equity benchmark Sensex traded 129.89 points higher at 58204.57.

Earlier in the day, the stock witnessed a gap up start to the session. The stock quoted a 52-week high price of Rs 348.7 and a 52-week low of Rs 205.25 on NSE. Around 21204 shares changed hands on the counter till 01:00PM (IST).

The stock opened at Rs 318.0 and has touched an intraday high and low of Rs 319.45 and Rs 316.3 during the session so far. The counter quoted a price-to-earnings (PE) ratio of 60.57, earnings per share (EPS) of Rs 5.27 and price to book value (PB) of 4.79, while the return on equity (ROE) stood at Rs -3.5.

Promoter/ FII Holding
The promoters held 38.19 per cent stake in the company as of March 22, while FII and MF ownerships stood at 19.0 per cent and 21.46 per cent, respectively.

Key Financials
With a market capitalisation of Rs 45339.18 crore, the company operates in the Hotels & Resorts industry. For the quarter ended 31-Dec-2022, the company reported consolidated sales of Rs 1743.51 crore, up 38.64 per cent from the previous quarter?s Rs 1257.57 crore and up 53.76 per cent from the same quarter a year ago. The company reported net profit of Rs 382.71 crore for the latest quarter, up 403.5 per cent from the corresponding quarter last year.

Technical Indicators
The relative strength index (RSI) of the stock stands at 53.11. The RSI oscillates between zero and 100. Traditionally, it is considered overbought condition when the RSI value is above 70 and oversold condition when it is below 30. Analysts say the RSI indicator should not be seen in isolation, as it may not be sufficient to take a trading call, just the way a fundamental analyst cannot give a "buy" or "sell" recommendation using a single valuation ratio.