External broker reports(aggregated public sources), Motilal Oswal Financial Services Limited

Motilal Oswal

External broker reports(aggregated public sources)

Motilal Oswal Financial Services Limited

Motilal Oswal Financial Services Limited is an Indian diversified financial services firm offering a range of financial products and services. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

<ul><li>Indian Hotel’s (IH’s) new and re-imagined businesses Ama Stays, Qmin, Chambers, and Management contracts are expected to scale up rapidly on the lower base and high growth runway.</li><li>These businesses are margin accretive with higher margin flowthrough, thereby driving up the RoCE.</li><li>The new business is expected to contribute ~26% to the company’s operating profits by FY25.</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

Indian Hotel’s (IH’s) new and re-imagined businesses Ama Stays, Qmin, Chambers, and Management contracts are expected to scale up rapidly on the lower base and high growth runway.These businesses are margin accretive with higher margin flowthrough, thereby driving up the RoCE.The new business is expected to contribute ~26% to the company’s operating profits by FY25.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Indian Hotel’s (IH’s) - Rapid Scaling up of Margin-Accretive New Businesses

External broker reports(aggregated public sources), Axis Direct

Axis Direct

Axis Direct is the flagship brand under Axis Securities Limited, a subsidiary of Axis Bank in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

<ul><li>Indian Hotels (IHCL) has delivered revenue growth of 67% YoY and has returned to strong profitability in the traditionally weakest quarter, Q2FY23 for the industry Indian.</li><li>The overall business recovery remains robust and travel demand continued to strengthen with India and other key markets like the US and UK growing double-digits YoY.</li><li>IHCL’s growing network and robust pipeline of new properties across brands as well as the growth of new businesses, IHCL is well-positioned to meet market demand and capture opportunities.</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

Indian Hotels (IHCL) has delivered revenue growth of 67% YoY and has returned to strong profitability in the traditionally weakest quarter, Q2FY23 for the industry Indian.The overall business recovery remains robust and travel demand continued to strengthen with India and other key markets like the US and UK growing double-digits YoY.IHCL’s growing network and robust pipeline of new properties across brands as well as the growth of new businesses, IHCL is well-positioned to meet market demand and capture opportunities.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Indian Hotels Company Ltd - Delivering Profitable Growth

Thematic (Sector/Industry)

<ul><li>Axis Diwali Muhurat Picks: SAMVAT 2079: We are glad to share our report – Axis Diwali Muhurat Picks: SAMVAT 2079 with you.</li><li>The report contains carefully selected and deeply researched stocks that are well-positioned to benefit from the robust festive demand and India’s favourable macroeconomic developments.</li><li>During the month, we published the Consolidated Preview for Q2FY23. You may refer to the full report here.</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

Axis Diwali Muhurat Picks: SAMVAT 2079: We are glad to share our report – Axis Diwali Muhurat Picks: SAMVAT 2079 with you.The report contains carefully selected and deeply researched stocks that are well-positioned to benefit from the robust festive demand and India’s favourable macroeconomic developments.During the month, we published the Consolidated Preview for Q2FY23. You may refer to the full report here.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

<ul><li>Samvat 2078 was a year of peaks and troughs with a roller-coaster ride in the equity market across the world.</li><li>Since the last Diwali, the market has witnessed significant volatility led by liquidity reversal, policy tightening, the Russia-Ukraine geopolitical crisis, and rising inflation.</li><li>While these developments inflicted notable changes in the market regimes, especially with higher commodity prices of base metals and crude oil over the first half of the Samvat, a trend reversal was seen in the second half of the Samvat with the majority of commodity prices cooling off primarily due to the policy tightening and the expectation of a slowdown in global growth.</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

Samvat 2078 was a year of peaks and troughs with a roller-coaster ride in the equity market across the world.Since the last Diwali, the market has witnessed significant volatility led by liquidity reversal, policy tightening, the Russia-Ukraine geopolitical crisis, and rising inflation.While these developments inflicted notable changes in the market regimes, especially with higher commodity prices of base metals and crude oil over the first half of the Samvat, a trend reversal was seen in the second half of the Samvat with the majority of commodity prices cooling off primarily due to the policy tightening and the expectation of a slowdown in global growth.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

<div><div><div><div><ul><li>We initiate coverage on Indian Hotels Company Ltd (IHCL) with a BUY rating and a target price of Rs 360 (EV/EBITDA 26x for FY25E EBITDA), implying an upside of 16% from the CMP.</li><li>The Indian Hotels Company Limited (IHCL), along with its subsidiaries, offers a fusion of warm Indian hospitality and world-class service.</li><li>These include Taj – the iconic brand for the most discerning travellers, SeleQtions – a named collection of hotels; Vivanta – sophisticated upscale hotels; and Ginger – which is revolutionising the lean luxe segment.</li></ul></div></div></div></div><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

We initiate coverage on Indian Hotels Company Ltd (IHCL) with a BUY rating and a target price of Rs 360 (EV/EBITDA 26x for FY25E EBITDA), implying an upside of 16% from the CMP.The Indian Hotels Company Limited (IHCL), along with its subsidiaries, offers a fusion of warm Indian hospitality and world-class service.These include Taj – the iconic brand for the most discerning travellers, SeleQtions – a named collection of hotels; Vivanta – sophisticated upscale hotels; and Ginger – which is revolutionising the lean luxe segment.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Indian Hotels Company Ltd - Strategic Measures, Proactive Capex

India

Jubilant Foodworks Ltd. owns and operates fast food chains. The Company offers donuts, baked goods, coffee, bagels, muffin, fruit milkshakes, smoothies, tea, sandwiches, pizza, and beverages. Jubilant Foodworks serves its products to customers throughout India.

EIH Limited owns and operates luxury hotels and resorts in India under the name "Oberoi."  The Company also manages a mid-price hotel chain in India, in addition to hotels in Egypt, Australia, Sri Lanka, Indonesia and Saudi Arabia.

Thomas Cook (India) Ltd. operates as an authorized dealer in foreign exchange and as a travel agent. The Company also offers packaged tours, cargo services and travel related insurance. Thomas Cook (India) has offices and foreign exchange counters at various international airports in major cities in India.

Mahindra Holidays & Resorts India Ltd. provides leisure hospitality. The Company offers family holidays with a range of services through vacation memberships. Mahindra Holidays gives its members the choice to stay at resorts with furnished accommodations, such as apartments and cottages, and resort amenities, such as restaurants, kids clubs, and other activities.

Westlife Development Limited is an operating-cum-investment company that puts up and operates quick service restaurants. The Company, through its subsidiary, operates fast food franchise restaurants across western and southern India.

Lemon Tree Hotels Limited owns and operates a chain of hotels and resorts. The Company offers room accommodations, resorts, transportation, swimming pools, on-site restaurants, meeting rooms, fitness gym, and spa facilities. Lemon Tree Hotels serves customers in India.

India Tourism Development Corp Ltd (known as ITDC) develops tourism infrastructure and promotes India  as a tourist destination. ITDC provides tourism services including accommodation, catering, travel-related services, event management, publicity, hotel consultancy, duty free shops, in-house travel agency, entertainment and shopping.

Wonderla Holidays Limited owns and operates two amusement parks in Kochi and Bangalore, India.

Delta Corp Limited a diversified business group having a presence in the entertainment and gaming, real estate business in India and Kenya. The Company's business includes offshore casinos, and real estate consulting & development.

Adlabs Entertainment, Ltd. operates a theme park. The Company manages a theme park with rides, shopping, dining, accommodation, and other entertainment services. Adlabs Entertainment serves customers near Mumbai, India.

Genting Singapore Limited, through its subsidiaries, develops resort properties as well as operates casinos. The Company has casinos and integrated resorts in different parts of the world, including Australia, the Americas, Malaysia, the Philippines and the United Kingdom.

MGM China Holdings Ltd. owns a luxury resort, hotel, and casino located in Macau. The Company is also exploring other casino gaming development opportunities in Macau.

Wynn Resorts, Limited owns and operates luxury hotels and destination casino resorts in Las Vegas, Nevada, Macau, and China. The Company offers amenities such as guest rooms and suites, restaurants, golf course, and an on-site luxury automotive dealership.

Hyatt Hotels Corp. is a global hospitality company. The Company manages, franchises, owns, and develops branded hotels, resorts and residential and vacation ownership properties around the world.

ZENSHO Holdings CO., LTD. operates a fast food chain specialized in GYUDON which serves bowls of rice topped with seasoned beef based in Kanto.      The Company operates also diversifying into other types of food chains such as "Coco's" and "Big Boy" in Japan.

Norwegian Cruise Line Holdings Ltd. operates a fleet of passenger cruise ships. The Company offers an array of cruise itineraries as well as theme cruises, while markets its services through various distribution channels including retail and travel agents, consumer direct, international sales, as well as incentive sales. Norwegian Cruise extends its services worldwide.

Wingstop Inc. owns and operates restaurants. The Company specializes in cooked-to-order, hand-sauced, and tossed chicken wings. Wingstop serves customers worldwide.

Planet Fitness, Inc. owns and operates a chain of fitness clubs. The Company offers offers personal fitness training programs for its members. Planet Fitness serves customers in the United States.

Scientific Games Corporation provides services, systems, and products to both the pari-mutuel gaming and instant ticket lottery industries.  The Company operates an instant ticket and online lottery products, systems, and services business.  Scientific also operates wagering and communications, venue management, and telecommunications products businesses.

Churchill Downs Incorporated is a horse racing company whose flagship operation, Churchill Downs, is the home of the Kentucky Derby.  The Company has additional racing and simulcast-wagering operations in Kentucky, Indiana, and Florida, as well as interests in various racing services companies.

Indian Hotels Company Limited operates The Taj Group of hotels.  The Company owns or maintains long term leases/licenses for hotels in India, in addition to International hotels.  The Group's hotels are divided into three groups: Luxury, Business, and, Leisure.

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Indian Hotels (IH IN)

Indian Hotel’s (IH’s) - Rapid Scaling up of Margin-Accretive New Businesses

Indian Hotel’s (IH’s) new and re-imagined businesses Ama Stays, Qmin, Chambers, and Management contracts are expected to scale up rapidly on the...

Motilal Oswal

Indian Hotels Company Ltd - Delivering Profitable Growth

Indian Hotels (IHCL) has delivered revenue growth of 67% YoY and has returned to strong profitability in the traditionally weakest quarter, Q2FY23...

Axis Direct

Axis Research Scorecard Report - Oct 22

The report contains carefully selected and deeply researched stocks that are well-positioned to benefit from the robust festive demand and India’s...

Axis Direct

Axis Diwali Muhurat Picks: SAMVAT 2079

Since the last Diwali, the market has witnessed significant volatility led by liquidity reversal, policy tightening, the Russia-Ukraine...

Axis Direct

Indian Hotels Company Ltd - Strategic Measures, Proactive Capex

The Indian Hotels Company Limited (IHCL), along with its subsidiaries, offers a fusion of warm Indian hospitality and world-class service.

Axis Direct

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