TajGVK Hotels shares: Stock down 26% in 1 year, but Monarch sees 49% upside - Here's why | Check share price target
AI Summary
The bullish outlook from Monarch Network Capital on Krishna GVK Hotels & Resorts highlights a pivotal moment for the company as it embarks on a new expansion phase. For retail investors, this could signal a potential turnaround in the hospitality sector, especially given the strong occupancy rates and the strategic consolidation of key properties. With the stock trading significantly below its 52-week high, this may present a compelling entry point for those looking to capitalize on the anticipated growth in luxury hotel offerings in India.
Shares of Taj GVK Hotels & Resorts, renamed Krishna GVK, could see a sharp re-rating as the company enters a new expansion phase, according to Monarch Network Capital (MNCL) Research. The brokerage initiated coverage on the stock with a BUY rating and a target price of ₹475, implying an upside of around 49% from last traded price of ₹319.
The brokerage's investment case rests on a combination of strong occupancy at the company's existing hotels, scope for higher room rates, the consolidation of Taj Santacruz in Mumbai and the upcoming Taj Yelahanka property in Bengaluru.
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Published on Livemint
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