Indian Hotels shares up 0.71% as Nifty falls

economictimes.indiatimes.com:

Indian Hotels Company Ltd. rose 0.71 per cent to Rs 383.25 in Wednesday's trade. It hit an intraday high of Rs 383.85 and low of Rs 376.85, respectively, during the day.

The stock quoted a 52-week high price of Rs 405.2 and low of Rs 232.05. As of 11:02AM (IST), the counter saw total traded volume of 73,934 shares with a traded value of Rs 2.81 crore, according to NSE. The stock had closed at Rs 380.55 in the previous session.

The scrip has declined -1.66 per cent in the past one month till date, while the benchmark BSE Sensex has gained 4.07 per cent during the same period. According to exchange data, the stock traded at a price-to-earnings (P/E) multiple of 54.33 while price-to-book ratio stood at 5.77. A higher P/E ratio shows that investors are willing to pay a higher price for per rupee earnings given by the stock because of better future growth expectations.

The price-to-book value indicates the inherent value of a company and it reflects the price investors are ready to pay even for no growth in a business. The stock belongs to the Hotels & Resorts industry.Promoter/FII Holding Promoters held 38.19 per cent stake in the company as of 31-Mar-2023, while FII and MF ownership in the firm stood at 18.24 per cent and 22.29 per cent, respectively.Key Financials The company reported consolidated sales of Rs 1654.54 crore for the quarter ended 31-Mar-2023, down 5.1 per cent from the previous quarter's Rs 1743.51 crore and down 73.27 per cent from the year-ago quarter's Rs 954.88 crore. Its net profit for the latest quarter stood at Rs 328.27 crore, up 342.47 per cent from the same quarter a year ago.