Buy Indian Hotels With Stop Loss Of Rs 94

Buy Indian Hotels With Stop Loss Of Rs 94Stock market analyst JK Jain of Karvy Stock Broking is of the view that investors can buy Indian Hotels Company Ltd stock with stop loss of Rs 94.

According to analyst, the stock has resistance at Rs 103.

Today, the stock of the company opened at Rs 98 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 118.35 and a low of Rs 59.50 on BSE.

Current EPS & P/E ratio stood at 1.82 and 54.05 respectively.

Indian Hotels Company said that it is considering raising its room rates by September or October of the existing year, its first increase in the last two years.

Moreover, the company expects to add around 1,500 novel rooms in the existing financial year (2010-11) across 13 hotels in Indian as well as South African market.

The company plans to carry on its growth plans on a selective basis for both business and luxury section internationally, desiring to become a worldwide brand.

Mr. Ratan Tata, chairman, Indian Hotels said, "I am upbeat about the growth prospects about the Indian hotel and tourism industry which has seen a revival since October 2009."

Total capex for new projects is Rs 959 crore spread over two to three years.