Hotel Industry / Maharashtra Government - Mr. Jyoti Roy , DVP - Equity Strategist, Angel Broking Ltd

"The Maharashtra Government has now allowed hotels to operate at 100% capacity in Maharashtra from the 2nd of September as compared to 33% earlier. However Hotels will have to follow standard operating procedures which will be issued by the Government in a few days. However bars will continue to remain shut. We believe that this is a positive move for the Hotel industry especially for players like Indian Hotels and Chalet Hotels which have significant presence in Mumbai. Chalet Hotels is our top picks in the Hotel sector given that more than 65% of their properties are in Mumbai and Pune. We have a BUY rating on Chalet Hotel with a target price of Rs. 200."

Source : Equity Bulls

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