Shares of Indian Hotels rise as Nifty gains

Shares of Indian Hotels Company Ltd. gained 0.33 per cent to Rs 392.85 in Thursday's trade as of 11:02AM (IST). It hit a high of Rs 395.9 and low of Rs 391.6 during the session.

The stock quoted a 52-week high price of Rs 399.4 and a low of Rs 207.25. The return on equity for the stock stood at 12.56 per cent. About 33,146 shares have changed hands on the counter so far.

The stock's beta value, which measures its volatility in relation to the broader market, stood at 0.56.

The scrip has been an outperformer, up 76.96 per cent in the past one year in comparison with a 16.48 per cent gain in Sensex.

Technicals
On the technical charts, the 200-day moving average (DMA) of the stock stood at Rs 207.25 on June 15, while the 50-DMA was at Rs 361.16. If a stock trades well above 50-DMA and 200-DMA, it usually means the immediate trend is upward. On the other hand, if the stock trades well below 50-DMA and 200-DMA both, it is considered a bearish trend and if trades between these averages, then it suggests the stock can go either way.

Promoter/FII Holding
Promoters held 38.19 per cent stake in Indian Hotels Company Ltd. as of 31-Mar-2023. Mutual funds and foreign institutional investors held 22.29 per cent and 18.24 per cent stake.