Brokerages increase target on this Tata Group stock; details here

Zee Biz web team

ZeeBiz Desk

Jul 22,2024

Stock markets finished down on Monday, July 22 with the benchmark Sensex falling 102 points owing to selling in index heavyweights and caution ahead of the Union Budget.

Budget stock to buy

Meanwhile brokerages have recommended buying this Tata Group stock after its Q1 earnings for the financial year 2025.

Jefferies' call

Brokerage Jefferies has advised to buy on Indian hotels. Also, the target price per share has been increased from Rs 680 to Rs 690.

Morgan Stanley

Another brokerage Morgan Stanley has given an 'overweight' opinion on Indian Hotels. The brokerage has given a target of Rs 595 per share.

Why Morgan Stanley is bullish on Indian Hotels ?

"The first quarter results were mostly as per expectations. Growth is expected to increase in July due to sluggish demand, shift of wedding dates to the second quarter." according to Morgan Stanley.

Indian Hotels' share price today

On Monday, shares of Indian Hotels closed at Rs 621.3 each up 7.6 per cent on BSE.

Expected returns

This means the stock has an upside of up to 11 per cent from its today's closing price.

Disclaimer

The views/suggestions/advice expressed here in this article are solely by the brokerage firm. Zee Business suggests its readers consult their investment advisers before making any financial decision.