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    Shares of Indian Hotels fall as Nifty drops

    Synopsis

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

    European sharesGetty Images
    Retail and banking stocks rose 0.5 per cent and 0.7 per cent, respectively.
    Shares of Indian Hotels Company Ltd. slipped 3.38 per cent to Rs 299.1 in Thursday's trade as of 12:33PM (IST). It hit a high of Rs 312.0 and low of Rs 294.75 during the session.

    The stock quoted a 52-week high price of Rs 348.7 and a low of Rs 172.35. The return on equity for the stock stood at -3.5 per cent. About 364,929 shares have changed hands on the counter so far.

    The stock's beta value, which measures its volatility in relation to the broader market, stood at 0.56.

    The scrip has been an outperformer, up 65.25 per cent in the past one year in comparison with a 7.89 per cent gain in Sensex.

    Technicals
    On the technical charts, the 200-day moving average (DMA) of the stock stood at Rs 172.35 on December 22, while the 50-DMA was at Rs 323.48. If a stock trades well 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 a bearish trend and if trades between these averages, then it suggests the stock can go either way.

    Promoter/FII Holding
    Promoters held 38.19 per cent stake in Indian Hotels Company Ltd. as of 31-Mar-2022. Mutual funds and foreign institutional investors held 22.45 per cent and 15.07 per cent stake.



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    (What's moving Sensex and Nifty Track latest market news, stock tips and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
    The Economic Times

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