ITC Hotels share price jumped 6% in morning trade on the BSE on Tuesday, 27 October, a day after the company reported its September quarter (Q2FY27) earnings. ITC Hotels shares opened at ₹168.65 against their previous close of ₹164.40 and rose 6% to an intraday high of ₹174.30, looking set to extend gains for the second consecutive session. In the previous session, the stock jumped 5%.
During market hours on Monday, the company said its profit for the September quarter jumped 51.4% year-on-year (YoY) to ₹201.02 crore. Revenue from operations for the quarter stood at ₹1,054.14 crore, up 25.6% YoY. EBITDA at ₹ 337 crore rose 37% YoY.
The stock has been under pressure this year amid a challenging macroeconomic environment. Year-to-date, the stock is down 13% compared to a 14% drop in the equity benchmark Sensex.
It hit a 52-week high of ₹226.65 on 27 October last year and a 52-week low of ₹137.40 on 30 March this year.
Brokerage firm JM Financial maintained a buy call on the stock but slightly raised the 12-month target price to ₹235 from ₹225 earlier.