May 29, 2018 / 6:07 AM / a month ago

BUZZ-Indian Hotels Co extends gain to near 4-week high; HSBC raises TP

** Shares of Indian Hotels Co Ltd extend gain to highest since May 2

** Shares rise as much as 4.2 pct to 148.8 rupees

** HSBC raises TP to 165 rupees from 155 rupees, keeps “buy” rating

** Says expects 2019 growth to be better than 2018, led by improvement in average room rates, adding that occupancy already near record-high levels in major cities

** Indian Hotels Co, which operates hotels under “Taj”, “Ginger” and “Vivanta”, posted 87 pct jump in March-qtr profit after market hours on Friday

** Stock had risen nearly 21 pct this year up to Monday

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