Buy Taj GVK Hotels For Target Rs 200: Ashwani Gujral

Taj GVK Hotels & ResortsStock market analyst Ashwani Gujral has maintained 'Buy' rating on Taj GVK Hotels & Resorts Ltd to achieve a target of Rs 200 in the short run.

According to Mr. Gujral, interested traders can buy the stock with a strict stop loss of Rs 140.

Today, the shares of the company opened at Rs 152.55 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 161.80 and a low of Rs 34.50 on BSE. Current EPS & P/E ratio stood at 5.45 and 28.75 respectively.

For the three month period ended Sep 30, 2009, Taj GVK Hotels & Resorts Ltd has declared that its income from operations stood at Rs 5347.64 lacs as against Rs 6158.74 lacs for the same period of the last year.

The company's PAT during the period was Rs 7 crores.

The company said that its hotels located at Hyderabad and Chandigarh have attained occupancy levels of 65% and 62% respectively with the new hotel Taj Mount Road at Chennai hitting 47% for the second quarter of the year 2009-10.

EPS for the quarter was Rs 1.12 against Rs 259 during corresponding quarter last year on the face value of Rs 2.

The company has recorded earnings per share of Rs 1.12 for the period ended September 30, 2009 as against Rs 2.59 during the quarter ended September 30, 2008.

During the first half of 2009-10, the company's total income dropped 16% to Rs 101.55 crores as against Rs 120.58 crores during the same period of 2008.