ITC Hotels stock fluctuated on Thursday after soaring 3 per cent in early trade. This followed a 53.4 per cent y-o-y increase in its consolidated net profit to ₹133.71 crore for the first quarter this fiscal and a 15.5 per cent y-o-y rise in revenue.
Brokerages have maintained a positive stance on ITC Hotels post its Q1 results, with both Jefferies and Macquarie raising their target prices citing strong performance. The street is optimistic on the company’s expansion plans, aiming to scale up to over 20,000 keys by 2030.
Jefferies retained a ‘buy’ rating and revised the target price upward to ₹270 from ₹240, highlighting a healthy all-round performance and robust growth in revenue per available room (RevPAR), boosted by the Sri Lanka project and higher other income. It also raised EBITDA estimates by around 4 per cent for FY26-28.
Macquarie echoed a similarly upbeat tone, maintaining an ‘outperform’ rating and hiking the target price to ₹270 from ₹250. It credited the hotel segment’s outperformance to stronger key performance indicators (KPIs) and ITC Ratnadipa’s contribution.
Shares were flat on the BSE at ₹238.35 as at 10.37 am, hitting an intraday high of ₹246 (also its 52-week high) against the previous close of ₹238.50.
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Published on July 17, 2025