Indian Hotels Share Price: Share price of Indian Hotels falls as Nifty weakens

Shares of Indian Hotels Company Ltd. slipped 1.2 per cent to Rs 415.45 in Wednesday’s trade as of 01:28PM (IST). The stock hit a high price of Rs 422.95 and low of Rs 415.0 during the session.

The return on equity (ROE) for the stock stood at 12.56 per cent. Traded volume on the counter stood at 01:28PM shares and turnover at Rs 1.54 crore around that time. The stock of Indian Hotels Company Ltd. quoted a 52-week high price of Rs 436.25 and 52-week low prices of Rs 280.2, respectively.

The stock’s Beta value, which measures its volatility in relation to the broader market, stood at 0.56.

Promotor/FII Holding
Promoters held 38.19 per cent stake in the company as of 30-Sep-2023, while foreign investors held 22.17 per cent and domestic institutional investors had 18.16 per cent.

Key Financials

The company reported consolidated sales of Rs 1480.87 crore for the quarter ended 30-Sep-2023, down 2.3 per cent from previous quarter’s Rs 1515.7 crore and down 17.76 per cent from the year-ago quarter’s Rs 1257.57 crore. Net profit after tax for the latest quarter stood at Rs 166.92 crore, up 37.31 per cent from the same quarter a year ago.

The MACD signalled a bullish bias on the counter. The MACD is known for signalling trend reversals in traded securities or indices.
It is the difference between the 26-day and 12-day exponential moving averages. A nine-day exponential moving average, called the signal line, is plotted on topof the MACD to reflect “buy” or “sell” opportunities. When the MACD crosses below the signal line, it gives a bearish signal, indicating that the price of the security may see a downward movement and vice versa.

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