HEM Securities has maintained buy raitng on Indian Hotels with target price of Rs 182 in its February 21, 2008 research report. "Indian hotels and its subsidiaries, collectively known as Taj Hotels Resorts and Palaces are a part of the Tata Group. It was incorporated in 1902. The economic activity of the company is Hotels & Restaurant Services. It trades in Rooms/Restaurants and Banquets. The Taj Mahal Palace and Tower, Mumbai started by Jamshedji N Tata in 1903 was the group’s first hotel. The concept of palace and heritage hotels was introduced in India by this group. The Fort Aguada Beach Resort, Goa is India’s first beach resort. The company has 56 hotels at 37 places across India and 13 international hotels in the Maldives, Mauritius, United Kingdom, Nepal, Sri Lanka, Africa and the Middle East. It has grouped its hotels into Luxury, Leisure and Business categories. The group has a total of 236 restaurants.
"The Indian Hotels with expansion of product portfolio into related offerings viz. luxury residence, wildlife, lodges and spas and expansion in international destination with top of the line luxury and leisure properties is expected to move ahead of its competitors and thereby providing huge growth potential. The stock at the current market price of Rs 128 will trade 20.48 times to its earnings and 3.78 times to its book value and is expected to provide huge upside potential in medium to long term. Therefore, we are initiating ‘BUY’ signal on the stock with the target price of Rs 182 which is approximately 42% up from the current market price of Rs 128," according to HEM Securities report.
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