The analyst flagged a potential breakout for Indian Hotels if ₹784 is breached, with upside targets at ₹846 and ₹892.70.

Indian Hotels is consolidating just under key technical resistance as the company prepares to announce its first quarter (Q1) results on Thursday.

Antique Stock Broking maintained a ‘Hold’ rating on Indian Hotels with a target price of ₹750, expecting standalone RevPar to rise 11% year-on-year in Q1 on strong average daily rate (ADR) growth.

The firm forecasts flat occupancy at 76%, but anticipates continued rate strength across business and leisure markets. Revenue is projected to grow 28% year-on-year to ₹1,980 crore, with core profit margin estimated at 29%.

Antique also expects second-quarter momentum to remain robust, aided by more wedding dates and MICE activity.

SEBI-registered research analyst Rohit Mehta said the stock is currently hovering near ₹750 and remains capped below Resistance 1 at ₹784. 

A breakout above this level could open the door to higher targets at ₹846 and the all-time high of ₹892.70, he noted.

On the downside, Mehta identified a strong support zone between ₹715 and ₹725.

Mehta noted that Indian Hotels has delivered solid growth over the past year, with sales, operating profit, and pre-tax profit all rising more than 25%. 

He also pointed out that the latest quarter shows some cooling off, with earnings per share down 10% from the previous quarter. 

The analyst noted that the stock’s valuation appears expensive, given its over nine times book value. 

However, Mehta highlighted the company’s strong long-term performance, with a five-year profit CAGR of 42.8%.

He also noted that promoter holding remained stable at 38.12% between December 2024 and March 2025, while FIIs trimmed their stake from 27.78% to 26.96%. 

Domestic institutional investors increased their holdings from 18.44% to 19.05%.

In other news, Indian Hotels Company (IHCL) said it has invested ₹165.02 crore in its wholly-owned subsidiary ELEL Hotel and Investment by subscribing to over 3.3 lakh equity shares via a rights issue.

ELEL holds the leasehold rights for the Bandstand Bandra land parcel, where IHCL plans to develop the Taj Bandstand project. The investment was made at ₹5,000 per share, including a ₹4,990 premium on each ₹10 face-value share.

On Stocktwits, retail sentiment was ‘extremely bullish’ amid ‘extremely high’ message volume.

Indian Hotels’ stock has declined 13.6% so far in 2025.

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