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The Hotel Association of India (HAI) has elected KB Kachru, chairman emeritus and principal advisor, South Asia at Radisson Hotel Group as president for a two year term. Kachru takes charge from outgoing president, Puneet Chhatwal, managing director and CEO of IHCL. The executive committee also elected Rohit Khosla, executive vice president, IHCL as vice president of the association for a concurrent term. HAI said it held its 27th Annual General Meet (AGM) in New Delhi, during which the committee, decided unanimously to elect the management committee for a term of two years. Dr JK Mohanty, managing director Swosti Premium Limited was elected as honorary secretary while Sanjay Sethi, managing director and CEO, Chalet Hotels Limited was elected as honorary treasurer of the association.The management committee will direct the association throughout its term of office till 2025. HAI Secretary-General, MP Bezbaruah thanked the outgoing committee members while adding that the relationship with them is 'enduring' and 'continuous.'Thanking the outgoing president Puneet Chhatwal for laying a strong foundation for the industry body and creating a unified voice for the sector as it faced its worst crisis in recent times, KB Kachru, said during Covid, HAI collaborated with other industry bodies, followed an aggressive advocacy plan. “Over the last two years, HAI has achieved new heights under the stellar leadership of Mr Chhatwal. As we embark on a new journey under the leadership of Mr. Kachru, we look forward to taking the legacy forward and contribute further to take the Association to the next level and create newer benchmarks for HAI. The industry has great hopes for HAI to be the driving force in achieving its goals. I am sure the new management team under Mr. Kachru will make all strides in ensuring the industry gets its due recognition in the times to come," said Rohit Khosla. In addition to adopting and approving the financial results for the year 2022-2023 and appointing auditors for the financial year of 2023-2024, the AGM’s agenda included elections of the association’s executive committee. The association also elected two new member to the executive committee – Shashank Bhagat, managing partner Radisson Blu Marina Hotel and Sonali Chauhan, general manager, The Connaught, New Delhi – IHCL Seleqtions.While Bhagat is the nominee for HAI’s member hotels in the category of 4 star and 3 star hotels, the hotels classified in the ministry’s classification categories of heritage 1 and 2 star would be represented by Chauhan.

Brokerage UBS upgraded rating on Eicher Motors to Buy while Jefferies initiated coverage on Syrma SGS and Kaynes Technologies. Nomura also shared its views on oil marketing companies (OMCs) in the light of a Rs 2 per litre cut in petrol and diesel prices. We have collated a list of recommendations from top brokerage firms from ETNow:UBS on Eicher Motors: Buy | Target: Rs 5,000UBS has upgraded Eicher Motors to 'Buy' from 'Neutral' and hiked the target price to Rs 5,000 from Rs 4,300. It expects Royal Enfield's upcoming 450cc platform launch to address competition and growth concerns. In its view, the company is found wanting on multiple fronts including its strength in RE's addressable market, lacklustre response to competition and company' strong customer connect.UBS sees the start of a multi-year upgrade cycle among the existing customers while expecting 10% domestic volume CAGR in FY24-26 for RE versus the industry's 6-7%. The stock is trading at a 20% discount to Bajaj Auto's 1-year forward PE, it noted calling the current risk-reward compelling, especially since RE remains insulated from electrification risk.Jefferies on Syrma SGS: Buy | Target: Rs 640Jefferies has initiated a buy on Syrma SGS for a price target of Rs 640. The EMS company will be a beneficiary of 35%+ CAGR growth in the industry helped by China+1 strategy. Jefferies on Kaynes Technology: Hold | Target: Rs 2,900Jefferies initiates coverage on Kaynes with Hold rating and a price target of Rs 2,900. Kaynes is the only EMS player to foray into OSAT and PCB production - backward integrated, the US brokerage said. Over FY 2024-26, Kaynes posted EPS CAGR at 55-60%, with ROCE expansion. Over FY24-26e, the Indian EMS industry is set to post +35% CAGR, led by China+1 and lower labour cost, Jefferies said. While the business model remains niche, punchy valuation calls for a 'Hold' rating on the counter.Nomura on OMCsBPCL: Buy| Target: Rs 735The Japanese brokerage has maintained a 'Buy' on the counter and hiked the target price to Rs 735 from Rs 455.HPCL: Buy | Target: Rs 570Nomura has upgraded the sock to 'Buy' from 'Neutral' while raising its target price to Rs 570 from Rs 305. IOCL: Buy | Target: 195IOCL has upgraded the stock to 'Buy' from 'Neutral' and hiked the target price to Rs 195 from Rs 105.In its view, the overhang in OMC stocks is done and dusted while the refining outlook remains healthy. In its view, the daily revisions will likely resume post the elections. Marketing margins are likely to remain at normative levels in FY25.B&K on Hindustan Foods: Buy | Target: Rs 678Brokerage B&K has initiated a coverage on Hindustan Foods with a 'Buy' and a target price of Rs 678. Calling it the largest consumer contract manufacturer in India, B&K said that the company has adopted organic and inorganic routes to scale up. Strong tailwinds are in place and this brokerage expects revenue/EBITDA/PAT to grow 23%/28%/37% over FY23-26. Despite strong growth, the company is expected to see net debt to equity declining to 0.4x from 1.2x. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)

Indian headline indices ended with sharp cuts on Tuesday amid selling pressure in all sectors. The worst hit were FMCG, IT and energy. While The S&P BSE Sensex settled at 72,012.05, lower by 736.37 points or 1.01%, the broader Nifty closed at 21,817.45, down by 238.25 points or 1.08%.India VIX, a measure of volatility in Nifty, was reported at 14.11 on Tuesday, up 1.56%.On the higher front, the 22,000 zone is likely to be seen as an immediate hurdle followed by the sturdy wall of 22,150-22,200, Osho Krishan analyst at Angel One said as he recommended caution going ahead with a strong focus on the stock-centric approach. He advised against bottom fishing and waiting for clear bullish reversal signals before considering aggressive long positions.We have collated stocks from various experts for traders who have a short-term trading horizon:Expert: Gajendra Prabu, Technical Research Analyst at HDFC Securities told ETBureauBajaj Finserv: Buy | Target: Rs 1,670 | Stop Loss: Rs 1,520 | Last Close: Rs 1,580 Hindalco Industries: Buy | Target: Rs 560 | Stop Loss: Rs 515 | Last Close: Rs 532Bharti Airtel: Buy | Target: Rs 1,285 | Stop Loss: Rs 1,187 | Last Close: Rs 1,225Expert: Kunal Bothra, Market Expert told ETNowMaruti Suzuki: Buy | Target Rs 12,000 | Stop Loss Rs 11,350Kotak Mahindra Bank: Buy | Target Rs 1,800 | Stop Loss Rs 1,725Triveni Turbine: Buy | Target Rs 520 | Stop Loss Rs 470Expert: Nooresh Merani, an independent technical analyst told ETNowICICI Bank: Buy | Target Rs 1,150 | Stop Loss Rs 1,050Bharti Airtel: Buy | Target Rs 1,350 | Stop Loss Rs 1,210SAIL: Buy | Target Rs 140 | Stop Loss Rs 115(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)