highlights
The company’s revenue and earnings increased in the March quarter.
So far in 2023, this stock has gained about 30 percent.
Within a year, Royal Orchid’s share capital has almost doubled.
New Delhi. Last year, Royal Orchid Hotels stock names were among the stocks attracting investors. This hotel stock has made investors nearly two-and-a-half times their money in just one year. After the excellent results of the fourth quarter, market experts now expect further growth of this stock. As of today, the shares of Royal Orchid Hotels on the NSE are trading at the level of Rs.341.95 (Royal Orchid Hotels share price), up about 5 percent.
Shares in Royal Orchid Hotels closed at Rs.327 on Thursday June 1, down 2.79 percent against the NSE. But today the business has started in green marks. This stock rose to 351 rupees once in one day. After that, it declined slightly and was trading at Rs 341.95 at the time of writing this news.
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Edelweiss gave the rating “buy”.
According to a Moneycontrol report, domestic brokerage firm Edelwise has given Royal Orchid Hotels a “BUY” rating and set a price target of Rs.595 on the stock. That’s about 67 percent more than the current market price. Orchid Hotels stock is up 143 percent over the past year. So far in 2023, this stock is up about 31 percent. The stock is up 13 percent over the past six months.
excellent quarterly results
Orchid Hotels’ fourth quarter fiscal 2023 results were excellent. On an individual basis, the total revenue of Royal Orchid hotels rose 83 percent to Rs.48.67 billion in the March quarter. In the most recent quarter, there was a 26.57 percent increase in earnings. The company’s operating profit (EBIDTA) rose 95 percent to Rs.1666 crore compared to Rs.851 crore in the December quarter.
The company’s net profit for the March quarter was Rs.7.18 crore, up 158 percent from Rs.2.78 crore in the December quarter. At the same time, for the full fiscal year 2023, Royal Orchid’s total revenue on a consolidated basis increased by 79 percent to Rs.279.69 crore, up 155.93 percent in the previous fiscal year.
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Keywords: Business news in Hindi, Multibagger Stocks, stock market, Stock Tips
FIRST RELEASED : Jun 2, 2023 2:16 PM IST
