Edelweiss has buy on Indian Hotels, target price of Rs 197
Buy Indian Hotels Company Ltd. at a price target of Rs 197.0 .
For the quarter ended 30-09-2019, the company has reported consolidated sales of Rs 1007.44 cCrore, down -1.23% from last quarter sales of Rs 1020.00 crore and up 4.45% from last year same quarter sales of Rs 964.53 crore. The company has reported net profit after tax of Rs 80.11 crore in the latest quarter.
The buy rating was given on the back of turning around of outlook and valuation and reporting highest-ever margin in the past decade, Edelweiss believes that this multiple will sustain given the sector’s improving outlook and focus on deleveraging balance sheet driven by increase in room addition through management contracts.