Shares of The Indian Hotels Co. witnessed a sharp decline after multiple block deals on the National Stock Exchange.
The stock fell as much as 7.58%, the most since Nov. 11, 2022, before paring loss to close 1.34% lower, as compared with a 0.68% advance in the benchmark Nifty 50.
The stock has risen 84.48% in the last 12 months. Of the 20 analysts tracking the company, 14 maintain a 'buy', four recommend 'hold' and two suggest 'sell', according to Bloomberg data. The average 12-month analysts' price target implies a potential downside of 9.1%.
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