175% Dividend Payout: Tata Hotel Stock FALLS 6.84%, Motilal Oswal Retains Buy; TP Rs 680

Current market price of Indian Hotels Co. Ltd. share on BSE is Rs 570.95 per share with intraday rally of 0.01%. Indian Hotels shares slipped 6.84% in last 1-month and rallied 59% in last 1-year. The hotel sector firm declared a surge of 27.43% year-on-year (YoY) in its net profit for the quarter ended March 31, 2024 as the net profit zoomed Rs 418 crore for Q4 as compared to Rs 328 crore declared in the corresponding quarter of last year.

Indian Hotels also recommended a dividend of Rs 1.75 per share. FII/FPI have increased holdings from 23.28% to 24.47% in March 2024 quarter.

Indian Hotels Recommends Dividend: As per the regulatory filing of the company April 24, 2024, "Recommended a dividend of Rs 1.75/- per Equity Share of Re 1/- each fully paid up of the Company @ 175% (previous year Re 1/- per Equity Share of Re 1/- each fully paid up @ 100%), subject to the approval of the Members at the forthcoming Annual General Meeting."

2 Analysts Give Buy: Sharekhan has suggested buy for Indian Hotels Co. Ltd shares with target price of Rs 679 per share as the company has chartered a strong growth plan to be achieved by FY2025-26 with a strong improvement in cash flows and strengthening balance sheet to become debt-free. According to Sharekhan, "EBITDA margins will consistently improve in coming years. With strong room inventory, IHCL is the best pick to capture strong growth momentum in domestic tourism in the coming years. We maintain a Buy recommendation on the stock with a revised price target of Rs. 679."

Motilal Oswal too recommended buy call to Indian Hotels share with target price of Rs 680 per share. "Growth in the standalone business was driven by better occupancy (up 440bp YoY) and ARR (up 4% YoY; LFL 8% excluding Ginger Santacruz). Standalone management contract revenue rose 32% YoY to Rs 1.5b. We broadly maintain our FY25/FY26 EBITDA estimates and reiterate BUY with our SoTP-based target price of Rs 680," added Motilal Oswal.

Indian Hotels Company Stock Split History: Indian Hotels Company last split face value of its shares from Rs 10 to Rs 1 in 2006. Indian Hotels shares traded ex-split from October 27, 2006.

Rekha Jhunjhunwala Has 2.11% Stake In Indian Hotels: Ace investor Rekha Jhunjhunwala has 2.11% stake in Indian Hotels stock and holds 30016965 shares of the company with the net worth of Rs 1203.4 crore as of September 30, 2023 quarter, according to data available at BSE and Trendlyne. Check more details below:

Indian Hotels Stock Performance & Return: The 52-week high price of Indian Hotels share on BSE is Rs 622.25 per share (as on 04/04/2024) and 52-week low price is Rs 350.45 apiece (as on 15/05/2023), respectively. It market capitalisation is 81,270.86 crore. Indian Hotels shares zoomed 31% year-to-date (YTD), rallied 44% in last 6-months, jumped 59% in last 1-year, and gave return of 129% in last 2-years. In last 3-years, Indian Hotels shares surged 423% and 286% in last 5-years.

Disclaimer: The stocks has been picked from the brokerage report of Sharekhan and Motilal Oswal. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.