Rakesh Jhunjhunwala Portfolio After Climbing Life Time High Off At 268.95 levels on the NSE in April 2022, the share price of Indian Hotels Company has been in the heat of a sell-off for more than a month. During this period, this stock of Rakesh Jhunjhunwala has retreated about 18 percent from its all-time high. According to stock market experts, the stock price of Indian Hotels is improving due to negative market sentiment. There is nothing wrong with the fundamentals of the company. He further added that the hospitality stock has immediate support 200 to 205 level while There is strong support for the 174 counter.
to speak on indian hotel share price Outlook, Amarjeet Maurya, AVP – Mid Caps at Angel One Ltd said, “During 4QFY22, Indian Hotels Company Limited (IHCL) registered a revenue growth of around 42 per cent and the company posted an adjusted profit. 58 crores against the loss of 117 crore in 4QFY21. IHCL is opening 60 hotels with over 7,500 rooms (currently the company has 20,581 operational rooms). In addition, we expect the domestic hotel industry to outperform on account of improving demand for leisure travel, improved demand from corporates as well as higher number of COVID vaccinations, benefiting players like IHCL. So, we are positive about the stock.”
Terming the Indian Hotels share retracement as a mere profit-taking, Anuj Gupta, Vice President – Research, IIFL Securities, said, “It is just a correction or profit booking. The trend and cycle of the stock of Indian Hotels Company is positive and may rise further. Now it has immediate support 200 to 205 level. its next support location The 174 level is a strong support area. Those having this stock in their portfolio are advised to maintain stop loss 174 levels and keep accumulating on each dip. for new investors 210-215 would be a good buy zone and one can enter the stock at these levels while maintaining stop loss 174 for each level from 260 275 in the short term.”
Anuj Gupta of IIFL Securities says the stock may go up 320 levels once it stops above 275 per share level.
Shareholding in Rakesh Jhunjhunwala Indian Hotels Company
As per the shareholding pattern of Indian Hotels Company for the period January to March 2022, Rakesh Jhunjhunwala and his wife Rekha Jhunjhunwala hold stake in this hospitality company. Rakesh Jhunjhunwala holds 1,57,29,200 shares or 1.11 per cent stake in Indian Hotels while his wife Rekha Jhunjhunwala holds 1,42,87,765 or 1.01 per cent in the company.
After Climbing Life Time High Off At 268.95 level in April 2022, the share price of Indian Hotels has been falling continuously. Indian Hotels share price today is trading at around Rs 221 each, down nearly 18 per cent from its all-time highs.
Disclaimer: The views and recommendations given above are those of individual analysts or broking companies and not of Mint.