Indian Hotels Company Ltd, a prominent hospitality company, experienced a decrease in its stock price by 0.71 percent as the Sensex, the benchmark index of the Bombay Stock Exchange, witnessed a positive climb. At 12:10 PM (IST) on Tuesday, the stock was trading at Rs 387.35, reflecting a downward trend. However, the stock had a promising start to the trading session, showing a gap up.
The trading data from the Bombay Stock Exchange revealed that a total of 73,301 shares were traded on the counter, amounting to a turnover of Rs 285.0 crore until 12:10 PM (IST). The stock’s price-to-earnings (P/E) multiple was 54.88, and the price-to-book value ratio stood at 5.77.
According to exchange data, the return on equity (ROE) of the company was recorded at 12.56 percent. Throughout the trading session, the stock reached a high of Rs 395.0 and a low of Rs 387.0. Its 52-week high and low were noted at Rs 405.2 and Rs 241.4 respectively. The stock’s beta value, which measures its volatility in relation to the broader market, was 0.56.
In terms of technical indicators, the 200-day moving average (DMA) of the stock was Rs 336.91 on July 18, while the 50-DMA stood at Rs 383.45. When a stock trades above both the 50-DMA and 200-DMA, it generally indicates an upward trend. Conversely, a bearish trend is indicated when the stock trades below both DMAs. If the stock trades between the 50-DMA and 200-DMA, it suggests that the stock’s direction could go either way.
The Relative Strength Index (RSI) for the stock was 51.05. RSI oscillates between zero and 100, and typically, a stock is considered overbought when the RSI value exceeds 70, while it is considered oversold when it falls below 30.
In terms of ownership, as of March 31, 2023, the company’s promoters held a 38.19 percent stake, while foreign institutional investors (FIIs) held 18.24 percent, and domestic institutional investors held 22.29 percent.
It is important to note that the Indian Hotels stock’s decline occurred despite the overall positive movement of the Sensex and other market factors. Investors and market analysts will closely monitor the stock’s performance to determine the driving factors behind this downward trend.
Disclaimer: This article is for informational purposes only. The information provided reflects the market conditions and trends at the time of writing and should not be considered as investment advice. Investing in stocks involves risks, and individuals should conduct their own research and seek professional advice before making any investment decisions.
