ITC Hotels: Jefferies initiated coverage on ITC Hotels (ITCH) with a ‘buy’ rating and a target price of Rs 240, citing strong growth potential. It projects a 16%/19% CAGR in EBITDA/PAT over FY24-FY27e and expects occupancy in India to rise to 75% by FY27. ITCH’s debt-free balance sheet and strategic expansion plans support long-term growth, despite short-term challenges in greenfield projects.
Geopolitics, crude risk and the IT conundrum: Sridhar Sivaram on why investors may need to stay selective
Geopolitical tensions in West Asia are creating market uncertainty, impacting energy supplies and capital flows. While Indian equities have shown resilience, prolonged conflict could significantly