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    Buy Lemon Tree Hotels, target price Rs 110: ICICI Direct

    Synopsis

    Lemon Tree Hotels Ltd., incorporated in the year 1992, is a Mid Cap company (having a market cap of Rs 6155.76 Crore) operating in Tourism & Hospitality sector.

    Buy,-sell-1---IStock
    Promoters held 23.93 per cent stake in the company as of 30-Jun-2022, while FIIs owned 27.93 per cent, DIIs 11.4 per cent.
    ICICI Direct has buy call on Lemon Tree Hotels with a target price of Rs 110. The current market price of Lemon Tree Hotels is Rs 77.65. Time period given by analyst is one year when Lemon Tree Hotels Ltd. price can reach defined target.

    Lemon Tree Hotels Ltd., incorporated in the year 1992, is a Mid Cap company (having a market cap of Rs 6155.76 Crore) operating in Tourism & Hospitality sector.

    Lemon Tree Hotels Ltd. key Products/Revenue Segments include Income from Rooms, Restaurants & Other Services and Other Operating Revenue for the year ending 31-Mar-2022.


    Financials
    For the quarter ended 30-06-2022, the company reported a Consolidated Total Income of Rs 192.29 Crore, up 51.21 % from last quarter Total Income of Rs 127.17 Crore and up 334.26 % from last year same quarter Total Income of Rs 44.28 Crore. Company reported net profit after tax of Rs 13.30 Crore in latest quarter.

    Investment Rationale
    The company’s large asset base, strategic partnership and financial flexibility would continue to support its liquidity profile if further need arises. It retains BUY rating on this stock with an SOTP based TP of Rs 110/share i.e. at 28x FY24E EV/EBITDA.

    Promoter/FII Holdings
    Promoters held 23.93 per cent stake in the company as of 30-Jun-2022, while FIIs owned 27.93 per cent, DIIs 11.4 per cent.



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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
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