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The share price of Indian Hotels today jumped 5.2 per cent to ₹ 141.85, its highest since June 11.
The Domestic brokerage Motilal Oswal initiated coverage on the stock with “buy” rating and target price of ₹ 163, implying an upside of 21 per cent.
The brokerage firm said, the company is an attractive investment candidate in the upcoming industry upcycle and has an ”invaluable asset” in the form of a strong brand name.
It added, the strong presence in high-demand, high-occupancy micro markets of Mumbai, NCR, Bangalore and Goa places it well to cater to rapid growth in the domestic market.
The company is set to benefit from operating leverage in the impending upcycle, led by its higher fixed-cost proportion and efforts to rationalize expenses says Motilal Oswal.
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