Multibagger Tata Stock Hits 4th 52-Week High, ICICI Securities Suggests Buy

Shares of large cap Tata Group company Indian Hotels Co. Ltd hit fourth consecutive 52-week high in trade today on BSE. Last trading price of Indian Hotels shares on BSE is Rs 435.15 per share with intraday decline of 1.20%. Indian Hotels stock rallied 7.38% in last 1-month and surged 115% in last 2-years. Brokerage firm ICICI Securities has assigned buy call to Indian Hotels shares with target price of Rs 458 (Rs 443 earlier). If you buy Indian Hotels share now at last trading price of Rs 435.15, you can fetch likely upside of 5.25%. Check details below:

IHCL Unveiled Flagship Ginger At Mumbai Airport: November 10 announced the opening of Ginger Mumbai, Airport. The 371 keys flagship Ginger hotel, strategically located near the domestic airport will introduce the brand's lean luxe design and service philosophy of offering a vibrant, contemporary, and seamless hospitality experience to its guests. Speaking on the occasion, Mr. Puneet Chhatwal, Managing Director and Chief Executive Officer, IHCL, said, "The opening of Ginger Mumbai Airport is a significant milestone in the transformation journey of the brand which now has over two third of its operating hotels in the upgraded new lean luxe identity."

Rekha Jhunjhunwala Has 2.11% Stake In Indian Hotels: It is worth mentioning that leading investor Rekha Jhunjhunwala has 2.11% stake in Indian Hotels stock and holds 30016965 shares of the company with the net worth of Rs 1203.4 crore as of September 30, 2023 quarter, according to data available at BSE and Trendlyne. Check more details below:

Indian Hotels Stock Performance & Return: Last trading price of Indian Hotels stock on BSE is Rs 435.15 apiece. Its 52-week high price is Rs 444.45 apiece and 52-week low price is Rs 280.20 apiece, respectively. The company has a market capitalisation of Rs 61,808.72 crore. Indian Hotels shares gained 37% year-to-date, soared 33% in last 1-year, and offered return of 115% in last 2-years. In last 3-years, Indian Hotels shares surged 245% and rose 212% in last 5-years.

Indian Hotels Valuation: According to the brokerage firm, ""We retain our BUY rating with a revised SOTP-based target price of Rs 458 against Rs 443 earlier as we roll forward to 23x Sep'25E EV/EBITDA. Key risks are fresh Covid waves and discretionary consumption slowdown."

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The stocks has been picked from the brokerage report of ICICI Securities. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.