Technical analyst Kavi Kumar has maintained 'hold' rating on Hotel Leela Venture Ltd stock to achieve a long term target.

According to Mr. Kumar, the interested investors can purchase the stock for 30-40% gains in 2 years time.

Today, the shares of the company opened at Rs 49.50 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 52.40 and a low of Rs 20.90 on BSE.

Current EPS & P/E ratio stood at 0.60 and 82.44 respectively.

Hotel Leela Venture Ltd has decided to raise room rates by 10-12% in 2010-11 and eyes income during the last fiscal ended March 2010 to reach Rs 4.5 billion.

It anticipates to record a 20-22% increase in revenue in FY11 riding on augmented room costs plus better volumes.

Moreover, the firm has already raised room rates by 8 to 10% in Jan-March.

Leela Hotels, Palaces and Resorts also decided to open two more properties in Delhi and Chennai by the next 12-14 months.

The hotel in the national capital is likely to come about before the Commonwealth Games and the Chennai one about six-months after.