The stock traded at a P/E multiple of 94.68, while the price-to-book value ratio stood at 4.79.

A total of 70,742 shares changed hands on the counter till 01:07PM (IST)

A total of 25,609 shares changed hands on the counter till 11:38AM (IST)

Obviously next week also we are in expiry. Monthly expiry is coming up that is why we are seeing that markets have been quiet since the last three-four sessions. So, the sector on my radar is financials and within the financials also PSU banks.

Obviously next week also we are in expiry. Monthly expiry is coming up that is why we are seeing that markets have been quiet since the last three-four sessions. So, the sector on my radar is financials and within the financials also PSU banks.

As of 31-Dec-2022, promoters held 38.19 per cent stake in the company, while FIIs held 15.07 per cent and domestic institutional investors had 22.45 per cent.

A total of 601,926 shares changed hands on the counter till 01:48PM (IST)

The stock traded at a P/E multiple of 98.76, while the price-to-book value ratio stood at 4.79.

A total of 42,895 shares changed hands on the counter till 01:12PM (IST)

A total of 27,282 shares changed hands on the counter till 10:46AM (IST)

Long-term investors can look at buying the stock after the recent fall for a target of Rs 108 in the next 12 months, suggest experts. Lemon Tree Hotels is Indias largest hotel chain in the mid-priced hotel sector, and the third largest overall, based on controlling interest in owned and leased rooms.

Banks received six bids with resolution plans ranging from ₹145 crore to ₹250 crore in the initial round of bidding conducted last month. Sankalp's offer was closely followed by Mumbai-based Rockwood Hotels & Resorts, which offered ₹247 crore payable over eight years, documents accessed by ET showed.

The stock traded at a P/E multiple of 101.45, while the price-to-book value ratio stood at 4.79.

“More than sectors, India is about the cherry picking of stocks. Selective stock picking is going to be rewarding even in 2023. Anybody can go wrong in predicting the index but the trajectory of wealth creation or returns is going to be definitely very positive in 2023 and the coming years.”

On the technical charts, the 200-day moving average of the stock stood at Rs 274.82.

Rising Covid cases in China and the chances of new BF.7 Omicron sub-variant's rapid spread in India have left a section of investors a worried lot. Domestic brokerage Motilal Oswal sees Covid to faint into a non-event in 2023 and believes that a mild spread of the infection won't have a debilitating impact on stocks.

“The core focus now has to come back to earnings which are going to be out and what happens to the US market. Overall we should look at this market with a positive bias because each and every correction that we are seeing in the last one year or so, has been bought into. So, overall we remain positive and constructive on the market.”

“Axis Bank is witnessing strong growth in the retail and mid-corporate segment along with MSMEs which should be its key growth driver. There is vehicle financing and micro financing which is a bigger portion for IndusInd compared to the mid-corporates and MSMEs is a segment where there could be strong growth which should drive Axis Bank in 2023.”

After being the best performer within the automobile pack in 2021 and giving multibagger returns, Tata Motors was knocked down by Dalal Street investors as the outlook for its arm Jaguar Land Rover was clouded by the global headwinds even as the domestic business

The strong credit growth and a major clean-up of the balance sheet drove public sector stocks, while the governments push to increase spending on infrastructure and domestic manufacturing propelled the railways and defence sector outlook.

On the technical charts, the 200-day moving average of the stock stood at Rs 271.94.

However, global factors like recessionary fears in the US and Europe, geopolitical risks and rising Covid-19 cases in China are likely to bring in volatility in the coming year, said Motilal Oswal Broking and Distribution.

"As of now, the resistances are gradually shifting higher. Earlier, the hurdles were near to 18,442 and are shifting even lower to the 18,350-18,300 zone. With this setup, we suggest selling on any bounce with resistance at 18,300. We are expecting this index to go down below 18,000 and test the next support of 17,950."

On the technical charts, the 200-day moving average of the stock stood at Rs 271.93.

The stock traded at a P/E multiple of 100.39, while the price-to-book value ratio stood at 4.79.

“Within IT, if I have to select one I would go with HCL Tech. There is a long upside in terms of the revenue growth, in terms of margins and rerating. The discount between Infosys and HCL Tech is also now almost 14-15%. That makes more sense to go with it.”

“Domestic sentiments were dented in line with global peers after the Bank of Japan (BoJ), in a surprise move, raised interest rate by 25 bps to 0.5%. Further, rising death cases in China after easing Covid-19 restrictions instilled more fear. Nifty opened the gap down and witnessed selling pressure for the most of the session," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services.

Motilal Oswal is bullish on Indian Hotels recommended buy rating on the stock with a target price of Rs 390 in its research report dated December 19, 2022.

“The industry did well on leisure and leisure was really the one that drove the revival in the industry but the prosperity can only come when it is a combination of business and leisure or ‘bleisure. That is going to come. Save for any Black Swan event, I am very convinced that these are positive days for the sector.”

“In the four-wheeler space, I like Mahindra & Mahindra. Autos should continue doing well and the commodity pressure is also coming down. The margins should also improve going ahead. In the case of Mahindra & Mahindra, new launches have been doing very well; their margins are also very decent and the return ratios are very strong. ”

Indian Hotels Company, incorporated in the year 1902, is a Mid Cap company (having a market cap of Rs 45836.30 Crore) operating in Tourism & Hospitality sector.

A total of 70,808 shares changed hands on the counter till time (IST).

JM Financial remains positive on Canara Bank and expects it to hit a target of Rs 345-365 in the next 1-2 quarters. “We expect Canara Bank earnings recovery to be driven by a) credit cost normalisation (1.3% by FY24E), b) improvement in margins and c) sustained growth momentum,” said the note.

The global brokerage firm believes that the deposit rate war brewing is on the expected lines and margins will peak out in Q3FY23. HDFC Bank and ICICI Bank are its top picks.

Bankers said strong balance sheets in some sectors, sharp volatility in the stock market, high valuations, and consistent selling by foreign portfolio investors (FPIs) through most of 2022 have kept companies away from raising funds through QIPs.

IHCL has shown its dominance and pricing power with domestic travelling already in full swing, increasing foreign tourist arrivals will make occupancy levels increase to even higher than current levels allowing the further potential of premium addition in Average Room rates.

Puneet Chhatwal attributed a successful Q3 to strong demand, flourishing wedding season, thriving business on books in October, November.

The Nifty Realty index closed 1.45 per cent up at 450.15.

The Nifty Pharma index closed 0.43 per cent up at 13144.2.

The Nifty Bank index closed 0.41 per cent up at 43231.0.

The Nifty IT index closed 0.15 per cent up at 30391.7.

“In the reopening trade, unfortunately we do not have many listed options. Hotel is one sub segment which we do like in this travel and reopening bit. I think we like Indian Hotels. It is a much more asset light model. Obviously the prices have gone up post Covid, but they have a clear strategy of one-third EBITDA coming from the contractual versus the leased rooms and some other asset light models. ”

"We expect the Nifty to be positively biased. FIIs have started the series with 77% longs in index. Every time Bank Nifty leads the rally, it has more strength. We expect the same, at least in the first fortnight of December. So, the indices might be in 18,100-18,800 and 42,000-44,500 might range for the indices and 18,100 and above the bias is positive for the December series."

"We expect the Nifty to be positively biased. FIIs have started the series with 77% longs in index. Every time Bank Nifty leads the rally, it has more strength. We expect the same, at least in the first fortnight of December. So, the indices might be in 18,100-18,800 and 42,000-44,500 might range for the indices and 18,100 and above the bias is positive for the December series."

Going by the improvement seen in 1HFY2023, we do not see this derailing anytime soon,said Manish Jeloka, co-head of products and solutions at Sanctum Wealth Management. Given that Q3 is the strongest in terms of seasonality, we expect the momentum to sustain.

ICICI Direct is bullish on Indian Hotels recommended buy rating on the stock with a target price of Rs 380 in its research report dated November 11, 2022.

"Large holdings are still in consumer discretionary as well as in specialty chemicals like SRF where the avenues for growth are immense, export is still very strong. SRF will benefit from China plus one strategy. Outside of that, this sector was not really fancied by FIIs about five years ago. Today, the companys capabilities have increased across the industry levels."

Motilal Oswal is bullish on Indian Hotels recommended buy rating on the stock with a target price of Rs 365 in its research report dated November 11, 2022.