Indian Hotels shares up 1.03% as Sensex rises

Shares of Indian Hotels Company Ltd. gained 1.03 per cent to Rs 395.8 in Wednesday's session as of 10:35AM (IST) even as the equity benchmark Sensex traded 75.96 points higher at 65693.8.

Earlier in the day, the stock witnessed a gap up start to the session. The stock quoted a 52-week high price of Rs 405.2 and a 52-week low of Rs 241.4 on NSE. Around 35067 shares changed hands on the counter till 10:35AM (IST).

The stock opened at Rs 391.8 and has touched an intraday high and low of Rs 397.9 and Rs 391.8 during the session so far. The stock quoted a price-to-earnings (PE) ratio of 56.03, earnings per share (EPS) of Rs 7.06 and price to book value (PB) of 5.77, while the return on equity (ROE) stood at Rs 12.56.

Promoter/ FII Holding
The promoters held 38.19 per cent stake in the company as of July 12, while FII and MF ownerships stood at 18.24 per cent and 22.29 per cent, respectively.

Key Financials
With a market capitalisation of Rs 56176.83 crore, the company operates in the Hotels & Resorts industry. For the quarter ended 31-Mar-2023, the company reported consolidated sales of Rs 1654.54 crore, down 5.1 per cent from the previous quarter?s Rs 1743.51 crore and down 73.27 per cent from the same quarter a year ago. The company reported net profit of Rs 328.27 crore for the latest quarter, up 342.47 per cent from the corresponding quarter last year.

Technical Indicators
The relative strength index (RSI) of the stock stands at 58.27. 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.