ITC Hotels Shares Hit All Time High As Trade Volume Surges This Week
The rising volumes have supported gains in ITC Hotels stock as experts also cite the good performance in the hospitality sector.
Shares of ITC Hotels Ltd. hit an all time high of Rs 193.2 apiece on NSE on Friday. The scrip has seen a 14.7% rise this week, while at all time high. The rising volumes have supported the gains of the stock, as experts also cite the good performance in the hospitality sector.
Rajesh Agarwal, head of research at AUM Capital, recommended ITC Hotels as a promising stock, in a conversation with NDTV Profit. He gave the counter a 'buy' rating, emphasising the company's strong brand value and expansion plans. This is also paired with the good performance of the hospitality sector.
"Company is doing very well and the sector as a whole is also doing very well. There are up moves and good numbers from the players," said Agarwal. The company is a very good play with a lot of good brands under their belt.
Management has come on record with plans to double their room capacity by 2030, he added. The average room rent is going up and Agarwal notes that the company is almost debt free.
All parameters point to a strong buy and a 15 to 20% CAGR is expected over the next three to four years for the company.
ITC Hotel Share Price
ITC Hotels stock rose as much as 5.44% during the day to Rs 193.2 apiece on the NSE. It was trading 2.79% higher at Rs 188.3 apiece, compared to a 0.65% advance in the benchmark Nifty 50 as of 11:27 a.m.
The stock has risen 9.4% since listing on Jan. 29, 2025. The total traded volume so far in the day stood at 2.1 times its 30-day average. The relative strength index was at 68.
Both of the analysts tracking the hotel have a 'buy' rating on the stock, according to Bloomberg data. The 12-month analysts' consensus target price on the stock is Rs 235, implying an upside of 24.9%.
