Lemon Tree Hotels shares surge over 6% after Q4 profit jumps 42% YoY

The company reported a total income of Rs 331 crore in the fourth quarter, compared to Rs 254.73 crore in the corresponding period of FY23.

The gross average room rate stood at Rs 6,605 in FY24, up from Rs 6,333 in Q3FY24. Occupancies, too, rose by 605 bps YoY to 72% in Q4FY24 from 66% in the year-ago period.

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At 10:45 am, the scrip was trading 2.7% higher on BSE. The stock has also surged nearly 50% in the past one year, while it has jumped 241% in the last three years.

As per Trendlyne data, the average target price of the stock is Rs 155, which shows an upside of 9% from the current market prices. However, the consensus recommendation from 16 analysts for the stock is a 'Buy'.

In technical terms, the relative strength index (RSI) of the stock is currently at 41.5. The RSI below 30 is considered oversold, and above 70 is overbought, Trendlyne data showed. Additionally, the MACD is at 1.2, which is above its center line, but below the signal line.

The stock stood higher than the 50-day, 100-day, 150-day and 200-day simple moving averages (SMAs), while lower than the 5-day, 10-day, 20-day, and 30-day SMA.

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