Never miss a great news story!
Get instant notifications from Economic Times
AllowNot now

You can switch off notifications anytime using browser settings.
Stock Analysis, IPO, Mutual Funds, Bonds & More

Edelweiss has buy on Indian Hotels, target price of Rs 197

Buy Indian Hotels Company Ltd. at a price target of Rs 197.0 .|
Updated: Nov 13, 2019, 08.37 AM IST
ThinkStock Photos
Edelweiss has given a buy rating on Indian Hotels (IHCL) in the long term with a target price of Rs 197 per share.Shares of Indian Hotels declined 1.8% to Rs 146.50 on Monday while BSE sensex closed 21.47 points up to 40,345.08.

Company Financials

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.

Investment Rationale

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.
Add Your Comments
Commenting feature is disabled in your country/region.
Download The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
Disclaimer: This recommendation is analyst's own and does not represent those of & Please consult your financial advisor before taking any position in the stock/s mentioned.

Other useful Links

Follow us on

Download et app

Copyright © 2019 Bennett, Coleman & Co. Ltd. All rights reserved. For reprint rights: Times Syndication Service