Should you buy, sell, or keep Indian Hotels stock after the company's Q4 results saw a nearly 4% decline?

Post by: Kanchan Chandel

Indian Hotels saw its stock price drop by over 4% following the announcement of its Q4FY24 results. The company reported a consolidated profit after tax of ₹438.33 crore for the quarter, marking a significant increase from the previous year's ₹338.84 crore. Total income also rose to ₹1,951.46 crore from ₹1,654.54 crore year-on-year, although expenses also saw an uptick to ₹1,416.77 crore from ₹1,254.52 crore.

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The stock opened at ₹590 apiece on NSE, hitting an intraday low of ₹582.50 and a high of ₹599.70. Analysts anticipate further selling pressure, with support seen at ₹580. Nuvama Institutional Equities noted the firm's in-line performance, particularly citing strong subsidiary performance and capital expenditure plans of ₹2,500 crore for FY25–27E. The brokerage maintained a "hold" rating on the stock with a revised target price of ₹578. Antique Stock Broking echoed similar sentiments, highlighting the anticipation of double-digit revenue growth in FY25 driven by asset management measures and portfolio expansion.

They maintained a "hold" rating with a target price of ₹500, valuing Indian Hotels at 24x EV/EBITDA on FY26E EBITDA. As the hotel sector anticipates a protracted upswing, investors are advised to consider expert opinions before making investment decisions. 

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