Shares of Indian Hotels Co. hit a record high on Thursday following a stellar second quarter, optimistic management commentary, and brokerages from Morgan Stanley to Jefferies weighing in on the company.
The stock rose as much as 2.68% during the day to Rs 774.20 apiece on the NSE.
Morgan Stanley shared a note on Wednesday maintaining an ‘overweight’ rating with a target price of Rs 759 per share, implying a 1% upside. As South Asia’s most profitable hotel chain, it is ‘raising the bar’ by aiming for a 20% uptick in Return on Capital Employed by fiscal 2030, the brokerage said.
Although the management refrained from providing a margin target, an RoCE improvement implies margin expansion, said Morgan Stanley. It also noted that the Searock…
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