Stock market analysts are of the view that investors can buy Indian Hotels Company Ltd stock to achieve an intraday target of Rs 96.50.

According to them, investors can buy the stock with a strict stop loss of Rs 94.

If the stock markets remain on the positive path then the stock price will hit a target above Rs 98.50.

Shares of the company, on Friday (Dec 11), closed at Rs 94.85 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 97.85 and a low of Rs 34 on BSE.

Current EPS & P/E ratio of the stock stood at 1.55 & 60.12 respectively.

Indian Hotels Company, proprietor of Taj Hotels, has decided to lift up Rs 500 crore and Rs 700 crore via non-convertible debentures, with tenures of 5-10 years, in order to refinance a part of its subsisting debt.

A source acquainted with the development stated the yields would be utilized to refinance a part of IHCL's subsisting arrears in addition to refinance a loan of its US division.

The hospitality division of the Tata group, which has a consolidated debt of more than Rs 4,000 crore, is eyeing to deleverage its record and has been viewing solutions to migrate its temporary arrears into permanenet ones, and also lessen its borrowings cost and perk up its liquidity.

Some months back, IHCL took on a controlling interest in Mumbai's Sea Rock Hotel worth Rs 680 crore.

The plan is to tear down the subsisting hotel property and commence a new development, which would be incorporated with its neighboring property - Taj Lands End. It also recently opened the Taj Pierre in United States after expending $100 million on its renewal.

The Taj group has been modernizing its hotel collection and has been liquidating properties that don't match its brand style and are less lucrative. It has also placed its Australian property-Blue on sale.