Indian Hotels shares up 0.94% as Nifty gains

NEW DELHI: Shares of Indian Hotels Company Ltd. traded 0.94 per cent up in Friday’s trade at 10:30AM (IST). Around 23,062 shares changed hands on the counter.

The scrip opened at Rs 419.95 and touched an intraday high and low of Rs 422.6 and Rs 418.3, respectively, in the session so far. The stock of Indian Hotels Company Ltd. quoted a 52-week high of Rs 436.25 and a 52-week low of Rs 280.2.

Total market cap of the Indian Hotels Company Ltd. stood at Rs 59841.47 crore at the time of writing this report.

Key Financials
The company reported consolidated net sales of Rs 1515.7 crore for the quarter ended 30-Jun-2023, down 8.39 per cent from previous quarter’s Rs 1654.54 crore and down 17.21 per cent from the year-ago quarter’s Rs 1293.19 crore.

The net profit for latest quarter stood at Rs 222.44 crore, up 30.81 per cent from the corresponding quarter last year.

Shareholding pattern
As of 30-Jun-2023, domestic institutional investors held 19.27 per cent stake in the company, while foreign institutional investors held 21.64 per cent and the promoters 38.19 per cent.
Valuation ratio
According to BSE data, the stock traded at a P/E multiple of 56.72 and a price-to-book ratio of 5.77. A higher P/E ratio shows investors are willing to pay a higher price because of better future growth expectations. Price-to-book value indicates the inherent value of a company and is the measure of the price that investors are ready to pay even for no growth in the business.

Indian Hotels Company Ltd. belongs to the Hotels & Resorts industry.

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