Shares of the Indian Hotels Company, a part of the Tata Group, have seen a significant upward trajectory since the start of the year.
Just today, shares of the Taj Hotels operator climbed up 4% to hit a new 52-week high of ₹389.40. Shares of the company have gone up 12% after it reported earnings last month for the March quarter. The company’s revenue from operations rose 86.39% year-over-year to ₹1,625.43 crore in the March quarter. Net profit for the period grew multifold to ₹328.3 crore as against ₹74.2 crore in the same quarter last year.
The numbers also impressed analysts. Domestic brokerage firms Motilal Oswal and IDBI Capital both maintained the ‘buy’ call for the stock with price targets of ₹420 and ₹430, respectively. Global research firm Jefferies also maintained its ‘buy’ rating for the stock with a price target of ₹425 in its latest note released today.
Now, with the stock market tidbits aside, let get’s to the section you are waiting for here’s what would have happened if you invested ₹10,000 in IHCL shares last year.
If you invested ₹10,000 in IHCL shares a year back on May 25, 2022, when the stock closed at ₹221.70, you would have bought around 45 shares of the company. Today, with the stock’s impressive rally, those 45 shares would be valued at over ₹17,000, giving you a return of more than 70% on your initial investment. If the stock reaches the analysts’ target price of around ₹425, your hypothetical initial investment would almost double itself at ₹19,125.
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Price Action: Indian Hotels’ share price was up 1.75% to trade at ₹381.80 on Thursday afternoon.
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