ITC Hotels share price zooms 11% to hit 52-week high on buoyant volumes, stock up 20% in one month: Time to buy?
ITC Hotels Share Price: With favourable demand-supply scenario, ITC’s hotel business is expected to perform well in the coming years backed by asset-light growth strategy. Based on revenue and EBIDTA growth assumption, we derived a potential price target of Rs195 for ITC Hotels, providing an upside of 15-30% depending on the expected listing price of Rs150-170.
• Post demerger ITC’s stock price could get adjusted by ₹12-15/share. With focus on driving core, the earning and return profile of ITC will improve in long run. We recommend Buy on ITC with a target price of ₹555
Key risks (i) Any substantial increase in tax rate on cigarette by government in the upcoming budget. (ii) Persistent slowdown in the urban demand to affect…
