EIHOTEL

Updates with analyst comments, shares and valuations of rivals in paragraphs 5 through 8

By Hritam Mukherjee

Jan 29 (Reuters) - Shares of ITC Hotels ITCT.NS fell in debut trade on Wednesday, following its spin-off from consumer goods firm ITC ITC.NS, valuing the luxury hotels operator at 366.2 billion rupees ($4.23 billion).

The stock fell to as low as 172 rupees, compared to a discovered price of 180 rupees determined during a pre-open trading session. It was last down 2.2% at 176 rupees.

ITC ITC.NS spun off its hotel business into a separately listed firm to focus on its core cigarettes and food business, as the unit is among the conglomerate's smallest by revenue and also capital-intensive.

Shares of the parent firm, which now owns a 40% stake in ITC Hotels, were down 0.8%.

ITC Hotels' listing performance was in line with expectations, but the stock is witnessing selling pressure as it is set to exit key indices such as Nifty 50 .NSEI, Nifty FMCG .NIFTYFMCG and BSE Sensex .BSESN, said Prashanth Tapse, senior vice president of research at Mehta Equities.

Brokerage Jefferies estimated post-listing outflows to the tune of $190 million to $200 million.

Shares of rivals EIH EIHO.NS and Indian Hotels IHTL.NS, which own the "Oberoi" and "Taj" brands respectively, were up roughly 2% each.

ITC Hotels' market valuation is second only to Indian Hotels, which is valued at 1.08 trillion rupees. EIH has a market value of 222.67 billion rupees.

ITC Hotels, with its luxury property offerings, is stepping into the equity market at a time when affluent Indians are splurging on premium products ranging from watches to cars, apartments, and even bathrooms.

It operates more than 140 properties across India, Nepal and Sri Lanka, and offers premium amenities including private swimming pools, jacuzzis, and desert safaris.

India's luxury hotels market is expected to be valued at $4.83 billion by 2030 from $2.99 billion in 2025, estimates from market analytics firm Mordor Intelligence showed.

($1 = 86.5790 Indian rupees)

(Reporting by Hritam Mukherjee in Bengaluru; Editing by Varun H K)

(([email protected]; X: @MukherjeeHritam;))

Dec 18 (Reuters) - ITC Ltd ITC.NS:

• ITC - ACQUISITION OF SHARES OF EIH LIMITED AND HLV LIMITED

• ITC LTD - ACQUIRES 2.44% OF EIH AND 0.53% OF HLV

Source text: ID:nBSE987kfX

Further company coverage: ITC.NS

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Nov 12 (Reuters) - EIH Ltd EIHO.NS:

• NAMES VINEET KAPUR AS CFO

Source text: ID:nBSEgBBbP

Further company coverage: EIHO.NS

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Oct 16 (Reuters) - EIH Ltd EIHO.NS:

• TO INVEST UPTO 100% STAKE IN EIH LONDON INVESTMENTS

• INVESTMENT OF GBP 69 MILLION

Source text for Eikon: ID:nBSE7Qg5J

Further company coverage: EIHO.NS

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** Shares of EIH EIHO.NS fall as much as 10.1%; trims some losses to last trade 6.3% lower to 371.65 rupees

** Stock on track for worst day since Sept. 4, 2023

** Hotel chain manager's Q1 profit fell 5.2% YoY

** Stock on track to fall in fifth straight session

** Rival Indian Hotels Co's IHTL.NS profit rose, sending its shares up

** EIH up ~48% YTD, IHTL up ~40%

(Reporting by Varun Vyas in Bengaluru)

(([email protected]))

** Shares of hotel chain manager EIH EIHO.NS up 6.5% to 478.9 rupees in early trading

** Co says it approved the construction of Oberoi Luxury Resort in Goa with investment of 4.21 bln rupees ($50.5 mln) and entered agreement for second project in the state

** Stock above 50-, 100 and 200-day avgs since late-December

** Stock set for third-best day this year so far

** In last 12 months, stock up over 180%

($1 = 83.3110 Indian rupees)

(Reporting by Varun Vyas in Bengaluru)

(([email protected]))

** Shares of EIH Ltd EIHO.NS surge 19%, hitting a record high of 196.4 rupees

** The hotel chain reported a near 55% rise in consol profit for Dec-qtr; rev from ops rose 26.4%

** Stock posts biggest intraday pct gain since 2018; has been trading above 200-day moving avg since April

** EIHO up 25% for the week so far; set for seventh consecutive week of gains, if trend holds

** More than 8.1 mln shares change hands by 10:20 a.m. IST, 5.6x the 30-day avg

(Reporting by Navamya Ganesh Acharya in Bengaluru)

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Feb 6 (Reuters) - EIH Ltd EIHO.NS:

• DEC-QUARTER CONSOL PROFIT 2.30 BILLION RUPEES VERSUS 1.51 BILLION RUPEES

• DEC-QUARTER CONSOL REVENUE FROM OPERATIONS 7.41 BILLION RUPEES VERSUS 5.86 BILLION RUPEES

Source text for Eikon: ID:nBSE2vW4P2

Further company coverage: EIHO.NS

(([email protected];))

Feb 1 (Reuters) - EIH Ltd EIHO.NS:

• UNIT MUMTAZ HOTELS APPROVED CONSTRUCTION OF LUXURY RESORT IN GANDIKOTA

Source text for Eikon: ID:nBSEt8Yhh

Further company coverage: EIHO.NS

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** Shares of Chalet Hotels CHAL.NS rise as much as 5.8% to a record 718.2 rupees

** Stock of Marriott, Westin and Four Points hotel chains operator last up 4.3%

** More than 1.4 mln shares traded so far, 3.8X the 30-day moving average and third-busiest session this month

** Mean rating of 12 analysts is "strong buy"; median PT is 660 rupees, about 7% lower than current price - LSEG data

** Stock on track for third straight year of gain

** Stock's roughly 2X climb in 2023 outpaces hotelier rivals Indian Hotels Company's IHTL.NS 36% and EIH Ltd's EIHO.NS 40% climbs

(Reporting by Varun Vyas in Bengaluru)

(([email protected]))

** Brokerage Nuvama expects rate momentum for Indian hotel firms to remain robust after revenue growth largely aided Q2 margins

** Adds premium-segment focused cos like Indian Hotels Company IHTL.NS, EIH EIHO.NS and Chalet Hotels CHAL.NS outperforming the sector

** CHAL, IHTL benefitted from G20 in Delhi - Nuvama analysts

** Brokerage says Lemon Tree Hotels LEMO.NS "top pick" on start of debt pay-down phase, likely traction

** Nuvama sees IHTL's India performance to sustain in Q3, raises co's PT to 422 rupees from 417 rupees and retains "hold"

** Shares of IHTL, CHAL and EIHO down between 0.1%-1.3% while LEMO up 0.1% on Tuesday

(Reporting by Hritam Mukherjee in Bengaluru)

(([email protected];))

** Shares of EIH Ltd EIHO.NS rise as much as 5.5% to 234.9 rupees

** Co reported an over three-fold jump in consolidated net profit to 931.1 mln rupees ($11.19 million)

** Revenue from operations rose 32.3% to 5.31 bln rupees

** More than 1.8 mln shares traded by 12:28 p.m. IST, 1.9x 30-day avg

** Stock currently up 4.7%, pushing YTD gains to 31.4%

($1 = 83.2100 Indian rupees)

(Reporting by Navamya Ganesh Acharya in Bengaluru)

(([email protected]; +91 8805175330 ;))

Nov 3 (Reuters) - EIH Ltd EIHO.NS:

• INDIA'S EIH SEPT-QUARTER CONSOL NET PROFIT 931.1 MILLION RUPEES VERSUS 245.5 MILLION RUPEES

• EIH LTD SEPT-QUARTER CONSOL REVENUE FROM OPERATIONS 5.31 BILLION RUPEES VERSUS 4.01 BILLION RUPEES

Source text for Eikon: ID:nBSEbJShFw

Further company coverage: EIHO.NS

(([email protected];))

Aug 8 (Reuters) - EIH Ltd EIHO.NS:

• INDIA'S EIH LTD JUNE-QUARTER CONSOL NET PROFIT 1.04 BILLION RUPEES VERSUS PROFIT 628.2 MILLION RUPEES

• EIH LTD JUNE-QUARTER CONSOL REVENUE FROM OPERATIONS 4.98 BILLION RUPEES VERSUS 3.94 BILLION RUPEES

Source text for Eikon: ID:nBSE9F0sGh

Further company coverage: EIHO.NS

(([email protected];;))

** Jefferies says demand growth levers intact for Indian hotels as supply likely to lag demand growth and occupancy outlook continues to be positive

** Indian Hotels Co IHTL.NS, EIH EIHO.NS, Chalet Hotels CHAL.NS and Lemon Tree LEMO.NS have surged in past 2 yrs on post-Covid rebound

** And YTD, IHTL up ~21%, EIHO ~19%, CHAL ~26% and LEMO ~8%, with Jefferies noting robust Q4 average room rate (ARR) growth

** Jefferies expects ARR to continue rising in FY24, with likely return of foreign travelers a key driver

** Says the seasonal decline in H1 FY24 will have "reduced negative impact compared to previous years"

** Jefferies rates IHTL "buy"; does not cover the others

** IHTL has rocketed ~172% over 2021-2022, while EIHO, CHAL and LEMO have surged between 94% and 109%

(Reporting by Hritam Mukherjee in Bengaluru)

(([email protected];))

** Shares of EIH Ltd EIHO.NS rise as much as 4.2% to 209.70 rupees

** Co on Monday reported an over-5.5x jump in Q4 consolidated net profit, while rev from ops more than doubled

** Stock above 50-day, 100-day and 200-day exponential moving averages since April 12, suggesting bullish trend

** Trade volume at 11:41 a.m. IST equals 30-day avg of ~1.43 mln shares

** One analyst rates stock 'buy' and one 'hold;' median PT is 205 rupees - Refinitiv data

** Stock up 13.5% this year, as of last close

(Reporting by Ashish Chandra in Bengaluru)

(([email protected] (+91 7982114624))

May 22 (Reuters) - EIH Ltd EIHO.NS:

• RECOMMEND FINAL DIVIDEND OF 1.10 RUPEES PER SHARE

Source text for Eikon: ID:nBSE7RdVcl

Further company coverage: EIHO.NS

(([email protected];))

** Shares of Indian luxury hotel manager EIH Ltd EIHO.NS rise as much as 10.6% to 189.70 rupees, their biggest intraday pct jump since Sept. 7, 2022

** EIHO jumps to its highest level since Nov. 4, 2022

** Over 5.2 mln shares change hands by 12:55 p.m. IST, marking their most active trading session since Sept. 7

** Relative strength index (RSI) of co – which manages the Oberoi brand of hotels, above 70 – suggesting stock is in "overbought" zone

** Stock turns YTD positive at current levels; up 6.4% in 2023

(Reporting by Nandan Mandayam in Bengaluru)

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