Multibagger Tata stock hits record high on second day in a row. Do you own?
- Multibagger stock: In 6 straight sessions, this Tata scrip has hit life-time high on 5th, 7th, 9th and 12th September
Multibagger stock: Shares of Indian Hotels Company Ltd are one of the multibagger stocks that Indian stock market has produced in last one year despite slowdown and inflation concerns. However, the stock is still looking in uptrend. The has hit record high of ₹316.45 apiece on NSE. Indian Hotels share price today opened upside and hit intraday high, which turned out its new life-time high on NSE. This Tata group stock had hit life-time high on Friday session as well. So, the multibagger Tata groups tock has climbed to record high on second successive session.
In 5 trade sessions last week, Indian Hotels share price hit new life-time high on Monday, Wednesday and Friday session that means the stock hit record high on 3 out of 5 sessions. Adding today's session in it, this multibagger Tata group stock has climbed to record high on 4 out of 6 straight sessions.
According to stock market experts, uptrend in the stock is expected to continue further as the stock is forming ‘higher top higher bottom’ pattern on chart.
Speaking on Indian Hotels share price outlook, Anuj Gupta, Vice President — Research at IIFL Securities said, “The stock has formed higher top higher bottom on chart pattern and it is looking in uptrend. It has strong support at ₹290 and it may go up to ₹350 to ₹360 apiece levels in short term.”
Indian Hotels share price history
As mentioned above, this Tata group's hospitality stock has doubled its shareholders money by delivering more than 110 per cent return in last one year time. In fact, the stock has been in uptrend after ushering in 2022. In year-to-date (YTD) time, this multibagger stock has surged from around ₹184 to ₹315 apiece levels, delivering around 70 per cent return to its shareholders. Likewise, in last 6 months, this multibagger Tata group stock has delivered more than 50 per cent return to its shareholders as the stock has managed to surged from near ₹205 to ₹315 apiece levels in this time horizon.
In last 5 years, Indian Hotels share price has appreciated from around ₹105 to ₹315 apiece levels, delivering to the tune of 200 per cent return to its shareholders. In last 10 years, this multibagger stock has risen from around ₹57 to ₹315 levels, ascending to the tune of 450 per cent in last one decade time.
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