IHCL reported stellar Q1FY26 results beating our and consensus estimates on all key parameters. The company delivered 13th best ever quarter aided by healthy demand in domestic market and improved operational performance of overseas hotels. Moreover, despite unpresented disruptions, RevPAR growth in domestic market is commendable. The management reiterated healthy double digit RevPAR growth in FY26E, aided by healthy demand, increasing FTA and higher spending on MICE, weddings etc. IHCL's new business are growing at a robust pace and will continue to support consolidated earnings. Net sales increased by...