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ITC Hotels shares at Rs 230? 3 reasons why Ambit Capital is bullish on this stock

Business Today

Business Today · 5m ago

ITC Hotels shares at Rs 230? 3 reasons why Ambit Capital is bullish on this stock

ITC Hotels shares, priced at Rs 170.30, have risen 4.20% over two weeks, outperforming a 0.45% drop in the BSE Sensex. Ambit Capital rates the stock as 'Buy,' with a target of Rs 230, predicting a 35% upside based on a one-year forward EV/Ebitda of 26 times. ITC Ratnadipa Hotel is projected to contribute 5% to FY28 revenue. Weddings and retail MICE are 80% of F24 revenue, up from 60% in FY20.

Related News

BAT mulls sale of some stake in ITC

VCCircle

VCCircle · 1y ago

BAT mulls sale of some stake in ITC

British American Tobacco (BAT) is considering selling a portion of its shareholding in Indian company ITC through an on-market block trade. BAT had previously announced plans to reduce its 29% stake in ITC, which operates in various sectors including consumer goods and hotels. The potential sale of $2 billion to $3 billion in ITC stock could allow BAT to pay down debt and resume share buybacks. The stake sale may begin as early as this week, according to sources. ITC has not yet responded to requests for comment.

Chartist Talks: Sudeep Shah of SBI Securities explains why he is bullish on Havells, Indian Hotels

Money Control

Money Control · 11m ago

Chartist Talks: Sudeep Shah of SBI Securities explains why he is bullish on Havells, Indian Hotels

Sudeep Shah of SBI Securities is bullish on Havells India and Indian Hotels. Havells India has broken out of a Cup pattern on the weekly chart, indicating strong bullish momentum, while Indian Hotels has seen a rebound from support levels with robust volume and momentum indicators. Shah expects the Nifty 50 to surpass the 26,000 level, driven by sector rotation in Nifty Bank, Nifty Financial Services, Nifty Auto, and Nifty FMCG sectors. He also shares his insights on Bank Nifty, Escorts Kubota, ICICI Bank, Kotak Mahindra Bank, and Mahindra and Mahindra.

ITC Hotels to cross 220 properties by 2030 as room demand outpaces supply, says Sanjiv Puri

Economic Times

Economic Times · 17d ago

ITC Hotels to cross 220 properties by 2030 as room demand outpaces supply, says Sanjiv Puri

ITC Hotels is set to surpass its target of 200 hotels by 2030, now aiming for over 220 properties. Chairman Sanjiv Puri attributes this growth to rising demand, higher occupancy rates, and improved international tourist count. The hospitality industry in India is experiencing robust growth due to increasing societal aspirations, digital transformation, and economic development. ITC Hotels, focusing on tier 2 and 3 cities, plans to address India's low hotel room penetration compared to global averages.

Minority shareholders to benefit from ITC Hotels demerger, will unlock value

Livemint

Livemint · 1y ago

Minority shareholders to benefit from ITC Hotels demerger, will unlock value

ITC's demerger of its hotel business into a separate entity, ITC Hotels, is expected to benefit minority shareholders by unlocking value and improving return ratios, according to proxy advisory firms. The demerger, approved by ITC's board last year, will allow ITC Hotels to operate with an optimal capital structure and attract strategic partners. Proxy firms InGovern, ISS, and SES have recommended voting in favor of the demerger, while Institutional Investor Advisory Services (IiAS) has suggested voting against it, citing incomplete value unlocking for shareholders.

Rayzon Solar files DRHP with Sebi for Rs 1,500 crore IPO

Economic Times

Economic Times · 2m ago

Rayzon Solar files DRHP with Sebi for Rs 1,500 crore IPO

Rayzon Solar has filed for a Rs 1,500 crore IPO to fund its solar cell manufacturing expansion, using Rs 1,265 crore to establish a 3.5 GW facility. With existing 6.00 GW module capacity, Rayzon aims for 3.5 GW solar cell production by FY 2027. Profits have surged, with FY24 revenue at Rs 1,272.85 crore. The IPO will also fund a 19,800 MT aluminum unit. Shares will list on BSE and NSE with SBI Capital, Ambit, and IIFL Capital as managers.

ITC faces major shareholder reshuffle with potential BAT divestment plans

Livemint

Livemint · 1y ago

ITC faces major shareholder reshuffle with potential BAT divestment plans

British American Tobacco (BAT) is reportedly preparing to sell a portion of its stake in ITC Ltd, the Indian conglomerate. BAT currently holds a 29.03% stake in ITC and is said to be exploring the possibility of divesting shares worth $2-$3 billion through block trades. This potential divestment could have significant implications for ITC's future strategy and shareholder structure. Last month, BAT hinted at the intention to monetize its stake in ITC to enhance balance sheet flexibility. The identities of the recent buyers and sellers of ITC shares remain undisclosed.

TBO Tek posts Rs 446 Cr revenue and Rs 59 Cr PAT in Q4 FY25

Entrackr

Entrackr · 3m ago

TBO Tek posts Rs 446 Cr revenue and Rs 59 Cr PAT in Q4 FY25

Business-focused travel distribution platform Travel Boutique Online (TBO) has recorded a 21% year-on-year increase in its revenue while its profits grew 28.3% during the fourth quarter of the last fiscal year (FY25). TBO’s operating revenue increased to Rs 446 crore in Q4 FY25 from Rs 369 crore in Q3 FY24, its consolidated financial statements sourced from the National Stock Exchange (NSE) show. Income from the booking of hotels and packages accounted for 80% of TBO’s revenue, which increased to Rs 357 crore in Q4 FY25. Meanwhile, income from air ticketing and other allied services brought Rs 79 crore and Rs 10 crore to the firm’s coffers. Hotels and packages, as the top revenue source, made service fees the largest cost center, accounting for 33.75% of total expenditure or Rs 135 crore in Q4 FY25. Employee benefits were Rs 99 crore in the same quarter. Overall, total costs rose to Rs 400 crore in Q4 FY25 from Rs 325 crore in Q4 FY24. The decent surge in scale and controlled expenditure led TBO to post a 28.3% YOY increase in its profits after tax to Rs 59 crore in Q4 FY25 from Rs 46 crore in Q4 FY24. However, for the full fiscal year, it posted a 15% YoY increase in PAT to Rs 230 crore in the previous fiscal (FY25). At the end of today’s (Thursday, May 22) trading session, TBO Tek saw around a 3% decrease in its stock, which stood at Rs 1,197 with a total market capitalization of Rs 13,005 crore or ($1.53 billion).

ITC shares approach 52-week low, trading in a range for a year; trend reversal on cards?

Business Today

Business Today · 5m ago

ITC shares approach 52-week low, trading in a range for a year; trend reversal on cards?

ITC shares are nearing a 52-week low, having traded within a specific range for the past year. Analysts are speculating whether a trend reversal is imminent for this stock.

ITC share are up by 0.56%, Nifty down by -0.11% | Mint

Livemint

Livemint · 11m ago

ITC share are up by 0.56%, Nifty down by -0.11% | Mint

ITC shares are trading at ₹509.5, up 0.56% from the previous closing price. The stock has hit a high of ₹511.7 and a low of ₹507. It is trading above short-term and long-term moving averages. On the technical front, there are resistance levels at ₹511.35, ₹515.75, and ₹521.45, while support levels are at ₹501.25, ₹495.55, and ₹491.15. The volume traded is 103.33% higher than the previous session, indicating a bullish trend. Fundamentally, the company has a ROE of 28.48% and a P/E of 30.97. The projected 1-year upside is 5.75% with a target price of ₹538.77.

Trade Spotlight: How should you trade Grasim, Syngene, Birlasoft, ADF Foods, KFin Technologies, and others on Wednesday?

Money Control

Money Control · 12m ago

Trade Spotlight: How should you trade Grasim, Syngene, Birlasoft, ADF Foods, KFin Technologies, and others on Wednesday?

The stock market closed with moderate gains, and here are some trading ideas for the near term: 1. Century Textiles and Industries: The stock is showing positive momentum and is currently trading at lifetime high levels. Use dips as a buying opportunity, with targets of Rs 2,650-2,700. 2. KFin Technologies: The stock witnessed a sharp rally and made a lifetime high. The trend is bullish, and one can adopt a buy-on-dips approach with targets of Rs 1,200 and Rs 1,240. 3. ADF Foods: The stock closed above a key level, confirming a breakout. The trend is positive, and one can consider buying on dips with targets of Rs 290-295. 4. Castrol India: The stock formed a bullish candle with higher volumes, indicating strong momentum. It is trading above its 20 DMA and has a positive outlook. Consider initiating a long position with a target of Rs 305. 5. Birlasoft: The stock is showing an upward trend and has strong volume participation. It is sustaining above its 20 DMA and has a bullish outlook. Consider buying with a target of Rs 700. 6. ICICI Prudential Life Insurance Company: The stock is forming higher highs and higher lows, indicating a sustained uptrend. It is positioned well above its short-term moving average, with a positive RSI reading. Consider buying with a target of Rs 790. 7. Syngene International: The stock is exhibiting robust momentum and is likely to extend its upward trajectory towards targets of Rs 880-900. Consider buying with a strict stop-loss. 8. Jindal Steel & Power: The stock is showing a solid upward trend with increasing volumes. Consider buying with targets of Rs 1,010 and Rs 1,026. 9. Grasim Industries: The stock is showing encouraging momentum and is approaching its support zone. Consider buying with targets of Rs 2,800 and Rs 2,825. 10. Dixon Technologies: The stock has recently broken out and is currently experiencing a pullback. Consider buying on declines with a target of Rs 14,000.

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