Oriental Hotels hits new high; up 27% in 1 week on hopes of strong earnings

Growth in the industry is largely expected from domestic demand which is expected to remain strong through FY24 even as international travel has shown green shoots of recovery.

Share of Oriental Hotels Limited (OHL) continued their upward movement, hitting a new high of Rs 109.80, up nearly 4 per cent on the BSE in Wednesday’s intra-day trade on hopes of strong earnings. In past one week, the stock has surged 27 per cent, as compared to 1.4 per cent rise in the S&P BSE Sensex.

OHL is part of the ‘Taj Hotels Resorts and Palaces’, the umbrella brand for the Tata group company, ‘The Indian Hotels Company Limited’ (IHCL), its subsidiaries and associates. IHCL and its associates hold 39.09 per cent equity stake in OHL.

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