Indian Hotels, which is included in the portfolio of veteran investor Rakesh Jhunjhunwala, who is called Warren Buffett of India, has given more than 100 percent returns to investors in the last one year. In the last quarter, Big Bull and his wife Rekha Jhunjhunwala held 2.99 crore shares, or 2.12 per cent. Jhunjhunwala held 1.11 per cent or 1.57 crore shares in the March quarter, while his wife Rekha held 1.01 per cent or 1.42 crore shares.
Let Indian Hotels is engaged in short term accommodation activities, and restaurant and mobile food service activities. The company is primarily engaged in the business of owning, operating and managing hotels, palaces and resorts under various brands including Taj, Selections, Vivanta, The Gateway, Ginger, Expressions, Ama Stages & Trails and TajSats. The hospitality arm of the Tata Group also operates restaurant, food and beverage businesses under the Golden Dragon, Wasabi by Morimoto, Thai Pavilion, House of Ming and Awning brands.
Out of the top-15 billionaires, only Gautam Adani has increased earnings, 14 including Musk lost $ 68 billion in a single day
In the March quarter of 2022, the holding of the company’s promoters has fallen from 41.02 per cent to 38.19 per cent. FIIs/FPIs have increased their stake from 15.19 per cent to 16.03 per cent in the March 2022 quarter.
The number of foreign investors increased to 267 from 227 in the previous quarter. Mutual funds increased their stake from 18.08 per cent in the December quarter to 21.43 per cent in the March quarter. The number of MF schemes holding stock increased from 23 to 27 in the March 2022 quarter.
Institutional investors also increased their stake from 40.49 per cent in the December quarter to 44.67 per cent in the March quarter. Meanwhile, Indian Hotels fell up to 2.89 per cent to close at Rs 250.20 on May 5 from the previous Rs 257.65. The stock gained 129 per cent in one year and 35.83 per cent in 2022. The company’s market cap on the NSE fell to Rs 35538 crore.
The stock hit a 52-week high of Rs 268.85 on May 4, 2022 and a 52-week low of Rs 106.35 on May 5, 2021. Today this stock had come down to Rs 243.
Indian Hotels’ net profit rose 181 per cent to Rs 74.19 crore for the fourth quarter ended March 31, 2022, from a loss of Rs 91.30 crore in the same quarter a year ago. Sales grew by 41.80 per cent to Rs 872.08 crore in the fourth quarter of last fiscal, as against Rs 615 crore in the corresponding quarter of the previous fiscal.
Operating profit excluding other income grew 123 per cent to Rs 159 crore in the March quarter, from Rs 71.31 crore in the fourth quarter of FY15.
On an annual basis, its loss declined by 65.60 per cent to Rs 247.72 crore in the previous fiscal, from Rs 720.11 crore in the March 2021 financial year. On April 28, ICICI Securities had given a target price of Rs 292 for the Indian Hotels stock. The time period of the call is one year.