Indian Hotels hits record high on Q2 profit, rev surge

Indian Hotels

08/11/2024 05:17

** Indian Hotels  IHTL.NS  rises as much as 5.6% to a record
high of 722 rupees
    ** Hospitality co posts 67% y/y rise in Q2 consol profit
before one time gain and tax; rev from ops up 27%
    ** Sees double-digit rev growth across all brands; domestic
like-for-like sales up 12%
    ** More than 10.3 mln shares traded, 3.6x its 30-day avg;
eyes most active session since late-July
    ** Stock rated "buy" on avg; median PT is 700 rupees - LSEG
    ** IHTL up 65% YTD

 (Reporting by Ashna Teresa Britto in Bengaluru)
 ((AshnaTeresa.Britto@thomsonreuters.com ; ( +91 8078332441))