Buy Indian Hotels Company, target price Rs 360: Sharekhan by BNP Paribas

Sharekhan by BNP Paribas has buy call on Indian Hotels Company with a target price of Rs 360. The current market price of Indian Hotels Company is Rs 338.75.

Indian Hotels Company, incorporated in the year 1902, is a Mid Cap company (having a market cap of Rs 48790.75 Crore) operating in Tourism & Hospitality sector.

Indian Hotels Company key Products/Revenue Segments include Income from Rooms, Restaurants & Other Services for the year ending 31-Mar-2022.

Financials
For the quarter ended 31-12-2022, the company has reported a Consolidated Total Income of Rs 1743.51 Crore, up 38.64 % from last quarter Total Income of Rs 1257.57 Crore and up 53.76 % from last year same quarter Total Income of Rs 1133.92 Crore. Company has reported net profit after tax of Rs 378.92 Crore in latest quarter.

The company’s top management includes Mr.N Chandrasekaran, Mr.Puneet Chhatwal, Mr.Venu Srinivasan, Mr.Mehernosh Kapadia, Ms.Anupam Narayan, Mr.Nasser Munjee, Ms.Hema Ravichandar, Mr.Venkataramanan Anantharaman. Company has B S R & Co. LLP as its auditors. As on 31-12-2022, the company has a total of 142 Crore shares outstanding.

Investment Rationale
Breakout from the symmetrical triangular pattern. MACD has also provided a bullish crossover.

Promoter/FII Holdings
Promoters held 38.19 per cent stake in the company as of 31-Dec-2022, while FIIs owned 19.0 per cent, DIIs 26.36 per cent.