Buy Indian Hotels With A Target Of Rs 100

Buy Indian Hotels With A Target Of Rs 100Technical analyst Siddharth Bhamre of Angel Broking has maintained 'buy' rating on Indian Hotels Company Limited stock with a target of Rs 100.

According to analyst, the stock can be purchased at Rs 94-95 with a stop loss of Rs 91.

The stock of the company, on Dec 06, closed at Rs 94.95 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 118.35 and a low of Rs 86 on BSE.

Current EPS & P/E ratio stood at 1.76 and 54.13 respectively.

Roots Corporation, a division of Indian Hotels Company, has decided to open 60 to 70 budget hotels christened as Ginger in 23 places across India.

Presently, it had budget hotels in 24 places.

Construction was in progress in 7 places and the company has inked a deal for establishing similar hotels in 9 different cities.

While addressing a meet, Prabhat Pani, Chief Executive Officer and Director, Roots Corporation, stated that Roots Corporation was already fabricating budget hotels in Bangalore, Tirupur, Amritsar, Jaipur, Mumbai and Hyderabad.

Indian Hotels Company is the country's biggest hotel chain, which runs under the brand of "Taj Hotels, Palaces and Resorts".

Apart from its base in the country, the company also has its establishments in other nations including Australia, Malaysia, the U. S., the Middle East, Maldives, Sri Lanka, Bhutan, Mauritius, the U. K., and Africa.