Rakesh Jhunjhunwala Portfolio Shares of Indian Hotels are among the hospitality stocks that have delivered stupendous returns to their shareholders despite the global economy battling the heat of Kovid-19. In fact, in the last one year, the stock of IHCL has given multibagger returns to its shareholders after a manifold jump. from 110 A growth of about 160 percent has been registered during this period. Indian Hotels share price has been rising for the past few sessions and on Monday, climbed to its lifetime high, after reporting a better-than-expected demand improvement in Q4FY22 results. 265.50 per share level on NSE.
According to stock market experts, Rakesh Jhunjhunwala Stock The chart has climbed to its lifetime high after giving a fresh breakout 230 levels. He added that Indian Hotels shares have formed a ‘high higher formation’ on the chart which indicates further upside in the counter. He further added that the company has delivered weak Q4 results, but it has reported a better-than-expected demand recovery which reflects a faster recovery in the wake of the unlocked theme.
Sumeet Bagadia, Executive Director, Choice Broking on Indian Hotels Share Price Outlook said, “One of the multibagger stocks in Rakesh Jhunjhunwala portfolio has given fresh breakout recently. 230 level and a ‘Higher High Formation’ has formed on the chart indicating further upside in the counter in the near term. The stock has strong support at from 230 240 levels while there is an immediate obstacle 280 While the big obstacle is 300 per share level. However, the stock is bullish and any fall in the counter should be viewed as a buying opportunity.”
Giving the tag of ‘Bullish for long term’ this Rakesh Jhunjhunwala stock, Santosh Meena, Head of Research, Swastika Investmart Ltd said, “Hotel industry is one of the best ways to open business post covid, which opens the subject Demand is expected to exceed supply on account of good recovery in both leisure and business travel.However, inflationary adversity and normalization of fixed costs will put pressure on industry margins.The industry leader and being a tailwind for the industry as a whole. As such, the road is extremely optimistic about the company. The long-term outlook for the hotel industry is bullish and Indian hotels will continue to be our preferred bet despite short-term challenges.
Anticipating recovery in FY23 in the post-pandemic phase, the research report by ICICI Securities says, “We believe IHCL to benefit from the expected improvement in hotel business cycle from H1FY23 (April’22) Ready and buoyed by the company’s efforts.Its existing brand equity to focus on new business segments, focus on cost optimization, asset-light management contract model to expand room portfolio, and rights in H2FY22 and net cash balance sheet of equity fund of Rs 40 billion through QIP issue. Our ratings are fresh COVID waves globally and in India which impacts demand and cost escalation leads to margin reduction.”
Shareholding in Rakesh Jhunjhunwala Indian Hotels Company
Big Bull and his wife Rekha Jhunjhunwala have invested in this Tata Group hotel. As per the shareholding pattern of IHCL for Q4FY22, Rakesh Jhunjhunwala holds 1,57,29,200 IHCL shares or 1.11 per cent stake in the company, while his wife Rekha Jhunjhunwala holds 1,42,87,765 IHCL shares or 1.01 per cent stake in the company .
Disclaimer: The views and recommendations given above are those of individual analysts or broking companies and not of Mint.