Indian Hotels share price witnessed a significant drop of over 4% on Thursday following the release of its March quarter results. Despite reporting a 29.36% increase in consolidated profit to 438.33 crore, the hospitality chain’s total expenses also rose, leading to a decline in share value. The company’s revenue increased to 1,951.46 crore from 1,654.54 crore in the same quarter last year. analysts remain cautious, with Angel One suggesting immediate support at 580 and predicting further selloffs if that level is breached. Nuvama Institutional Equities maintains a “hold” rating but raises its target price to 578, valuing Indian Hotels at 26x FY26E EBITDA. Antique Stock Broking also maintains a “hold” rating and a target price of 500, valuing the company at 24x EV/EBITDA on FY26E EBITDA.