Indian Hotels Co Ltd

NSE :INDHOTEL   BSE :500850  Sector : Hotels & Restaurants

About Company: Indian Hotels Company is primarily engaged in the business of owning, operating & managing hotels, palaces and resorts. Part of Tata Group IHCL belongs to the Tata group conglomerate which owns more than 100 plus companies and has a 113$ billion revenues. IHCL has 116 years of legacy in the Hotel business

Brand Portfolio IHCL owns several iconic hotels which includes TAJ, Vivanta, Ginger, Seleqtions, Expressions and several other brands. In total the company has 22 subsidiaries, 6 associates and 8 Joint ventures. The brand TAJ has been hailed as the strongest Brand in India for the year 2020 by Brand Finance.

Weekly Chart Of Indian Hotels Co Ltd.

Technical Outlook of Indian Hotels Co. Ltd:

Stock on 3rd Dec 2021, Friday jumped 4.4%. A gain of Rs.8.10 per share. Profit booking in the counter was seen due to the news flows of New variant of corona virus but no serious action or spread was seen in India and everything looks to be under control. If we look at the chart structure on weekly time frame of Indian Hotels, Stock seem to re-test the break out levels which it broke after huge consolidation.

From the above chart it can be clearly observed that stock has strong support zone of 170. We suggest to hold the stock in portfolio for long term as technically risk and rewards looks comfortable. Hence we suggest to Buy stock at current levels (CMP) for the Targets of 250- 290 in the next few months. Stop loss should be maintained below 160 level on closing basis.