The business of the hospitality sector was badly affected during the Corona period. However, some of the hospitality stocks in the stock market have given strong returns. One such stock is of Indian Hotels.
The stock price of Tata Group’s Indian Hotels is at an all-time high. The stock of this company is trusted by stock market investor Rakesh Jhunjhunwala and this stock is also included in Big Bull’s portfolio.
How much return given: In the past one year, the stock of Indian Hotels has given a return of around 140 per cent to its shareholders. On Monday, the share price had gone up to Rs 265.45 on the BSE index, which is the highest level of 52 weeks. Talking about the market capital of the company, it is Rs 37,164.76 crore.
What experts say: Sumeet Bagadiya, Executive Director, Choice Broking said, “The stock has strong support at ₹230 to ₹240 level while its immediate hurdle is at ₹280. The major hurdle is at ₹300 per share level. However, the stock is bullish and there is no downside. Also, a fall in the counter should be seen as a buying opportunity.”
Tagging the stock ‘Bullish for long term’, Santosh Meena, Head of Research, Swastika Investmart Ltd said that Indian Hotels continues to be our preferred bet despite short-term challenges.
Jhunjhunwala’s stake: Big Bull and his wife Rekha Jhunjhunwala have invested in this Tata Group hotel. As per the shareholding pattern of Indian Hotels for the fourth quarter of the last financial year, Rakesh Jhunjhunwala holds 1,57,29,200 shares or 1.11 per cent stake in the company. At the same time, wife Rekha Jhunjhunwala holds 1,42,87,765 shares or 1.01 percent stake in the company.