Buy Indian Hotel Company, target Rs 180: Sharekhan
Sharekhan research has maintianed buy rating on Indian Hotel with target price of Rs 180 in their December 13, 2007 report. “We maintain our positive stance on IHCL, as it is the largest hotel company in India with premium properties. We believe its strategy of expansion both in domestic and overseas markets and better profitability of its international operations would ensure that IHCL maintain the growth momentum. At the current market price of Rs150, IHCL trades at 20.9x its consolidated EPS of Rs7.2 (post dilution on account of the rights issues) for FY2009E. We maintain our Buy recommendation on the stock with a price target of Rs180,” says Sharekhan report.
