Indian Hotels Company to benefit from domestic demand in Q1, says Goldman Sachs
BUZZ-Indian Hotels Company to benefit from domestic demand in Q1, says Goldman Sachs ** Indian Hotels Company IHTL.NS up about 0.6% to 742.55 rupees apiece--on track for a sixth straight session of gains
** Shares touched seven month high before paring gains
** Goldman Sachs revises co's revenue per available room (RevPAR) estimates to about 9% YoY in Q1 FY27 vs earlier expectation of 6-7% YoY; reiterates "buy" rating, TP of 830 rupees
** Hotel sector demand has remained strong despite West Asia conflict, rising air fares and government call to minimize unnecessary travel -- brokerage
** Usual outbound tourism demand shifted to domestic destinations, benefitting co, Goldman analysts say
** International air travel showing initial signs of improvement, boding well for international heavy H2 for IHTL
** 24 out of 29 analysts rate the stock "buy" or higher, with median PT of Rs 786.5
** YTD, stock up 0.54%
(Reporting by Saikeerthi in Bengaluru)
((Saikeerthi@thomsonreuters.com; (+91) 8296756080))
Recent news on Indian Hotels
See all newsIndian Hotels Company rises after co raises full-year revenue outlook
Tata's owners deserve to prevail in power struggle
Brief: Indian Hotels Company Q2 Consol Net Profit 3.49 Billion Rupees
Tata's owners deserve to prevail in power struggle
Brief: Indian Hotels Company Gets Penalty Of 1 Million Rupees From BMC