From Lemon Tree to Indian Hotels: These hotel stocks could offer up to 20-33% returns

SUMMARY

With India opening its doors to foreign tourists now and revenge spending working up its magic, demand is expected to improve, thereby benefiting hotel stocks. Further, there has been a steady rise in attendance in offices and an uptick in corporate travel. This along with increasing demand during the festive and wedding season has offered comfort to market participants. Here are some stock recommendations in the hotel sector, by technical chartists that could make decent returns for an investor:

By CNBCTV18.comNov 20, 2021 12:17:13 PM IST (Updated)

Chalet Hotels | This stock could be accumulated at current levels. It could rally up to Rs 320-340 which implies an upside of 20-27 percent from the current level of Rs 267. (Swapneel Mantri, technical analyst at Institutional Desk, Sushil Finance)

Lemon Tree Hotels | This stock could be bought on dip. Buying zone for the stock is around Rs 48-50 and it could gain more up to Rs 60 which would mean an upside of 20-25 percent. (Swapneel Mantri, technical analyst at Institutional Desk, Sushil Finance)

EIH | One could add this stock in their portfolio when there is a dip to around Rs 135 level, after which the stock is expected to climb up to Rs 170-180 implying a 26-33 percent gain. (Arpan Shah, Senior Research Analyst at Monarch Networth Capital)

Taj GVK Hotels & Resorts | One can expect some correction in the stock in the near term towards Rs 135 level, where investors can look to add this stock in their portfolio. It could rally up to Rs 165-180, generating a 22-33 percent return. (Arpan Shah, Senior Research Analyst at Monarch Networth Capital)

Indian Hotels Co | Bias in the stock is positive but one would have to wait for an entry point. Once the stock surpasses the breakout level of Rs 220, it could continue to rally up to Rs 265 which means an over 20 percent upside. (Kkunal Parar, Vice-President Research at Choice Broking)

Oriental Hotels | A fall of up to Rs 37 could present a good buying opportunity. The stock is expected to continue marching north towards Rs 46, suggesting a 24 percent upside. (Kkunal Parar, Vice-President Research at Choice Broking)