Friday, September 30, 2022
HomeBusinessIndian Hotels: This multibagger share of Tata Group will make money! ...

Indian Hotels: This multibagger share of Tata Group will make money! Brokerage has made bets, Rakesh Jhunjhunwala has also invested

Demand is coming in the hotel industry. The occupancy rate may cross 70 per cent in the first half of the current financial year and soon thereafter come to the pre-covid level.

Rakesh Jhunjhunwala Portfolio Stock: This multibagger share of Tata Group, Indian Hotels (IHCL) is witnessing great growth today. Today, this stock had gained more than 6 percent to reach Rs 254 in intraday. On Tuesday, it closed at Rs 236. This stock has proved to be a multibagger for the investors. In the last 1 year, it has more than doubled the money of investors. Brokerage house ICICI Securities is bullish on Indian Hotels and has given investment advice. The brokerage says that demand is coming in the hotel industry. The occupancy rate may cross 70 per cent in the first half of the current financial year and soon thereafter come to the pre-covid level. Indian Hotels will get the benefit of this due to being included in the leading players. Shares are also included in the portfolio of market veteran Rakesh Jhunjhunwala.

Demand in the growing sector

Brokerage house ICICI Securities says that once again demand has started coming in the hotel industry. There is a recovery in the hotel sector since Q3FY22 (October 2021 to December 2021) and the occupancy rate is increasing. The sentiment regarding the hospitality sector has improved due to the less impact of the Omicron variant. Hotel operators, industry experts and channel checks have shown that the occupancy of the industry was below 50 per cent in January 2022, which has increased to 55 per cent by February 2022. It is expected to reach 70 per cent by H1FY23 i.e. first half of FY 2023. At the same time, it is expected to come to the precovid level further. Indian Hotels included in the industry leaders will get the benefit of all this.

How much return can I get

Brokerage house ICICI Securities has given buy advice in Indian Hotels (IHCL) and has given a target of Rs 285 for the stock. Earlier brokers had given a target of Rs 237 in this, which has been achieved. The stock had closed at Rs 236 on Tuesday. In this sense, further 21 percent return can be given in this.

At the same time, the brokerage house has also advised to buy in Lemon Tree Hotels (LTH) and has given a target of Rs 80. The stock had closed at Rs 63 on Tuesday. In this sense, it is expected to return 27 percent.

Rakesh Jhunjhunwala holds 2.2% stake

Market veteran Rakesh Jhunjhunwala has a 2.2 percent stake in the stock of Indian Hotels (IHCL). He has 28566965 shares of the company. Whose current value is around Rs 673 crore. He had increased stake by about 0.1 per cent in the December quarter. This stock has given 35 percent returns so far this year and 136 percent in the last one year.

(Disclaimer: Stock investment advice is given by the brokerage house. These are not the personal views of digitnews. Markets are risky, so take expert opinion before investing.)

- Advertisement -
MOBILE

Auto

Two Wheeler

BUSINESS AND FINANCE

Digit News