Rakesh Jhunjhunwala Portfolio The share price of Indian Hotels Company Limited (IHCL) has reached a new peak today after hitting a new lifetime high on Monday. Extending its rally in another session, Indian Hotels share price today opened higher 2 per share difference and went up to a fresh lifetime high of 268.95, surpassing its previous all-time high 265.50 per share level. According to stock market experts, this multibagger stock is expected to continue its rally as both fundamentals and technicals indicate strength in the stocks in the upcoming sessions.
According to stock market experts, Rakesh Jhunjhunwala Stock But after giving breakout there has been an uptrend 230 per share level and Indian Hotels stock is currently forming a ‘higher higher’ formation on the chart pattern which means that the stock may continue to move higher. He added that in view of the unlock theme, hotel stocks are expected to outperform key benchmark returns and any fall in the stock should be seen as a buying opportunity.
speaking on the cause of indian hotel share price Rally, Avinash Gorakshakar, Head of Research, Profitmart Securities, said, “IHCL share price has continued to rise due to the unlock theme. Hotel stocks have been a non-participant in the recent market rally in 2021. However, due to the easing of COVID-19 restrictions, After the country, the upcoming wedding season and good booking position of leading Indian hotels in India, the market is expecting strong quarterly numbers in the coming quarters which is why Indian Hotels share price climbed to new highs despite weak Q4 results. is.” Gorakshakar said that the current IPL 2022 has also worked in favor of hotel business as a good number of sports lovers from different countries come to India to watch IPL matches.
Sumeet Bagadiya, Executive Director, Choice Broking said on the stock chart of Indian Hotels, “This hospitality stock has given breakout recently. 230 each level and it has formed a higher high formation on the chart which indicates further upside in the counter. Strong support for Indian Hotels shares from 230 240 level while it is facing immediate resistance 280. Upon breaking this immediate barrier, the stock . can go up to 300 each level in the near future.”
Indian Hotel Share Price History
Indian Hotels shares are one of the multibagger socks in 2021. In the past year, it has increased from approx. from 105 265 levels, a jump of nearly 150 percent over the period. In YTD timing, this Rakesh Jhunjhunwala Portfolio, has gone up by stock close to 184 265 level, an increase of about 45 percent over 2022.
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.