BUY INDIAN HOTELS COMPANY, TAGET RS :180
Investor's Eye [August 31, 2007] Please see the attachment for details Share khan www.sharekhan.com Indian Hotels Company Cluster: Apple Green Recommendation: Buy Price target: Rs180 Current market price: Rs128 Room rate hikes to boost earnings Key points Indian Hotels Company's (Indian Hotels) stock has underperformed after Q1FY2008 results and the stock has corrected by 9% in the last two months. We believe that the quarter's subdued performance was more due to the rupee appreciation than any significant change in the inherent characteristics of the industry. To address the issue of the strong rupee, Indian Hotels has already announced that they would be shifting to a single tariff structure (rupee tariff) across all its properties in India from September this year. We have already mentioned in our Q4FY2007 update that the first half of FY2008 would get affected due to the rupee appreciation till the con