The stock market witnessed a stormy rise in the trading session on Friday. Nifty closed at the level of 23907 with a gain of 557 points. During this period, bullish sentiments were seen in many stocks.
 

Motilal Oswal Financial Services has recommended buying Tata Group company Indian Hotels Company at a target price of Rs 880. Shares of Indian Hotels Company Ltd closed at Rs 796.85 on Friday. The market cap of Indian Hotels Company is Rs 1.14 lakh crore. Indian Hotels is a company engaged in hotel and tourism. FIIs and DIIs have increased their stake in Indian Hotels Company.

In the last quarter. The stock has been seeing bumper buying for the last five days and the stock price has reached the level of Rs 801 from Rs 708 in five days. That is, the stock has gained 13% in five days. In the last one month, this stock has shown a gain of 20%. This stock also has a dividend yield of 0.22%.

In the last one year, this stock has given a return of 90% to its investors. In the last one year itself, FIIs have increased their stake in this stock from 22.2% to 27.4%.
 

Financial results of the company

For the quarter ended 30-09-2024, the company has reported consolidated net earnings of Rs 1890.22 crore, up 18.41% from the total income of Rs 1596.27 crore in the previous quarter. The total income is 27.64% higher than the total income of Rs 1480.87 crore in the same quarter last year. The company has reported a net profit after tax of Rs 573.21 crore in the latest quarter.

Motilal Oswal Financial Services believes that the company's financial discipline and operating flexibility are going to be very helpful in achieving its 2030 goals. During FY24-27, they expect Indian hotels to post a CAGR of 18%/24%/26% in revenue/EBITDA/Advt. PAT.

In Indian Hotels, promoters held a 38.12 percent stake in the company as of 30-Sep-2024, while FIIs held 27.44 percent, and DIIs held 18.80 percent. Both FIIs and DIIs increased their stake in this quarter.