Brokerage firm expects – this stock of Rakesh Jhunjhunwala portfolio may go up 40 percent

Multibagger Stock: Brokerage house Nirmal Bang recently hosted Indian Hotels Company IHCL on an investor call in which the company’s management stated that the strong rental growth in hotels seen in 2QFY22 led to 3QFY22 With stays, holidays, weddings etc., the momentum gained further.

The brokerage and research firm IHCL remains positive on the prospects for business recovery as a strong growth environment coupled with a V-shaped recovery in demand, cost optimization, enhanced EBITDA margins, strong brand recall and an asset light approach to growth. (asset light approach) and diversify the revenue strategy to include other verticals like Ginger, Cummins, Ama Trails, Chambers etc.

The brokerage firm has maintained a ‘Buy’ rating on the shares of Indian Hotels with a target price (TP) of ₹294, indicating a potential growth of over 40% from the current levels. The brokerage firm’s note said the management’s strategy is focused on accelerating growth and not reducing debt. Key elements of the strategy include improving balance sheet strength by expanding management contracts, diversifying revenue streams, acquiring subsidiaries such as Roots.

As per the BSE shareholding pattern, Rakesh Jhunjhunwala and his wife Rekha Jhunjhunwala hold 1.05% stake in Indian Hotels as of September 2021.

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