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Indian Hotels shares drop 1.09% as Sensex falls

India’s 1st Import Export Consultant

Shares of Indian Hotels Company Ltd. traded 1.09 per cent lower in Thursday’s session at 11:51AM (IST). The stock opened at Rs 568.0 and has touched an intraday high and low of Rs 568.0 and Rs 558.85, respectively, during the session so far.

The stock quoted a 52-week high of Rs 622.25 and a 52-week low of 371.45. About 78,599 shares changed hands on the counter so far.

Benchmark Nifty50 was down 147.25 points at 22557.45, while the BSE Sensex traded 457.54 points lower at 74045.36 at the time of writing of this report.

In the Nifty pack, 7 stocks traded the day in the green, while 43 were in the red.

Key Financials

For the quarter ended 31-Mar-2024, the company reported consolidated sales of Rs 1951.46 crore, down 2.6 per cent from the previous quarter’s Rs 2003.64 crore and down 17.95 per cent from the year-ago quarter. The company reported net profit of Rs 417.76 crore for the latest quarter. Promoter Holdings
Promoters held 38.12 per cent stake in the company as of 31-Mar-2024, while FIIs held 24.47 per cent and MFs 15.92 per cent.

Technicals
On the technical charts, the 200-Day Moving Average (DMA) of the stock stood at Rs 482.04 on May 30, while the 50-DMA was at Rs 578.1. If a stock trades above 50-DMA and 200-DMA, it usually means the immediate trend is upward. On the other hand, if the stock trades well below 50-DMA and 200-DMA both, it is considered as bearish trend and if trades between these averages, then it suggests the stock can go either way.

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SROMPL – India’s 1st Import Export Consultant and Branding and Marketing Company,

Welcome to Sromplexport! We’re a company that helps people and businesses import and export products across different countries. Whether you’re looking to source products, manage logistics, or navigate customs regulations, we’ve got you covered. We’re based in Rajkot, Gujarat, India, and we’re committed to providing ethical and transparent service to our clients. We work with industries like textiles, agriculture, and handicrafts, and we’re always happy to build new relationships with people who want to succeed in the import/export world. Thanks for stopping by, and let us know how we can help you!

Sromplexport offers international trade services, including product sourcing, quality control, logistics, and customs clearance. Our ethical and transparent approach simplifies the import/export process for clients in various industries.

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