{"id":91163,"date":"2026-05-19T11:35:45","date_gmt":"2026-05-19T06:05:45","guid":{"rendered":"https:\/\/univest.in\/blogs-2\/?p=91163"},"modified":"2026-05-19T11:35:46","modified_gmt":"2026-05-19T06:05:46","slug":"viceroy-hotels-analyst-review-2026","status":"publish","type":"post","link":"https:\/\/univest.in\/blogs-2\/viceroy-hotels-analyst-review-2026\/","title":{"rendered":"Viceroy Hotels Analyst Review May 2026"},"content":{"rendered":"<p>This <strong><a href=\"https:\/\/univest.in\/user\/stocks\/vhltd\/viceroy-hotels-ltd-share-price-today\">Viceroy Hotels<\/a> analyst review<\/strong> for May 2026 covers the key data investors need for VICEROY at its current price of Rs 58. Viceroy Hotels (NSE: VICEROY) is a hotel company with a market capitalisation of approximately Rs 500 crore, operating hotels in Hyderabad and other Tier 1 cities. The analyst consensus target of Rs 68 implies meaningful upside, and this <strong>Viceroy Hotels analyst review<\/strong> examines technical levels, business segments, valuation, and key risks for VICEROY through FY27.<\/p>\n<p><a href=\"https:\/\/univest.in\/user\/log-in\"><strong>Click Here &#8211; Get Free Investment Predictions<\/strong><\/a><\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/univest.in\/blogs-2\/viceroy-hotels-analyst-review-2026\/#Viceroy_Hotels_Company_Snapshot_May_2026\" title=\"Viceroy Hotels Company Snapshot May 2026\">Viceroy Hotels Company Snapshot May 2026<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/univest.in\/blogs-2\/viceroy-hotels-analyst-review-2026\/#Analyst_Insight_in_This_Viceroy_Hotels_Analyst_Review\" title=\"Analyst Insight in This Viceroy Hotels Analyst Review\">Analyst Insight in This Viceroy Hotels Analyst Review<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/univest.in\/blogs-2\/viceroy-hotels-analyst-review-2026\/#Technical_Analysis_in_This_Viceroy_Hotels_Analyst_Review\" title=\"Technical Analysis in This Viceroy Hotels Analyst Review\">Technical Analysis in This Viceroy Hotels Analyst Review<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/univest.in\/blogs-2\/viceroy-hotels-analyst-review-2026\/#Key_Support_and_Resistance_Levels\" title=\"Key Support and Resistance Levels\">Key Support and Resistance Levels<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/univest.in\/blogs-2\/viceroy-hotels-analyst-review-2026\/#Business_Segment_Analysis\" title=\"Business Segment Analysis\">Business Segment Analysis<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/univest.in\/blogs-2\/viceroy-hotels-analyst-review-2026\/#Hotel_Operations_Hyderabad_%E2%80%93_Core_Market\" title=\"Hotel Operations (Hyderabad &#8211; Core Market)\">Hotel Operations (Hyderabad &#8211; Core Market)<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/univest.in\/blogs-2\/viceroy-hotels-analyst-review-2026\/#MICE_and_Corporate_Travel_Business\" title=\"MICE and Corporate Travel Business\">MICE and Corporate Travel Business<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/univest.in\/blogs-2\/viceroy-hotels-analyst-review-2026\/#Asset_Management_and_Hotel_Franchising\" title=\"Asset Management and Hotel Franchising\">Asset Management and Hotel Franchising<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/univest.in\/blogs-2\/viceroy-hotels-analyst-review-2026\/#Valuation_in_This_Viceroy_Hotels_Analyst_Review\" title=\"Valuation in This Viceroy Hotels Analyst Review\">Valuation in This Viceroy Hotels Analyst Review<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/univest.in\/blogs-2\/viceroy-hotels-analyst-review-2026\/#Trade_Outlook_for_Viceroy_Hotels\" title=\"Trade Outlook for Viceroy Hotels\">Trade Outlook for Viceroy Hotels<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/univest.in\/blogs-2\/viceroy-hotels-analyst-review-2026\/#Key_Risks_for_Viceroy_Hotels_in_FY27\" title=\"Key Risks for Viceroy Hotels in FY27\">Key Risks for Viceroy Hotels in FY27<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/univest.in\/blogs-2\/viceroy-hotels-analyst-review-2026\/#Conclusion_Viceroy_Hotels_Analyst_Review_Verdict_for_2026\" title=\"Conclusion: Viceroy Hotels Analyst Review Verdict for 2026\">Conclusion: Viceroy Hotels Analyst Review Verdict for 2026<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/univest.in\/blogs-2\/viceroy-hotels-analyst-review-2026\/#Frequently_Asked_Questions_Viceroy_Hotels_Analyst_Review_2026\" title=\"Frequently Asked Questions: Viceroy Hotels Analyst Review 2026\">Frequently Asked Questions: Viceroy Hotels Analyst Review 2026<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/univest.in\/blogs-2\/viceroy-hotels-analyst-review-2026\/#What_is_the_analyst_target_for_Viceroy_Hotels_in_2026\" title=\"What is the analyst target for Viceroy Hotels in 2026?\">What is the analyst target for Viceroy Hotels in 2026?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/univest.in\/blogs-2\/viceroy-hotels-analyst-review-2026\/#Is_Viceroy_Hotels_a_good_investment_at_Rs_58\" title=\"Is Viceroy Hotels a good investment at Rs 58?\">Is Viceroy Hotels a good investment at Rs 58?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/univest.in\/blogs-2\/viceroy-hotels-analyst-review-2026\/#What_is_Viceroy_Hotelss_52-week_high_and_low\" title=\"What is Viceroy Hotels&#8217;s 52-week high and low?\">What is Viceroy Hotels&#8217;s 52-week high and low?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/univest.in\/blogs-2\/viceroy-hotels-analyst-review-2026\/#What_are_the_key_risks_for_Viceroy_Hotels\" title=\"What are the key risks for Viceroy Hotels?\">What are the key risks for Viceroy Hotels?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-18\" href=\"https:\/\/univest.in\/blogs-2\/viceroy-hotels-analyst-review-2026\/#Where_can_I_track_live_data_for_Viceroy_Hotels\" title=\"Where can I track live data for Viceroy Hotels?\">Where can I track live data for Viceroy Hotels?<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Viceroy_Hotels_Company_Snapshot_May_2026\"><\/span><strong>Viceroy Hotels Company Snapshot May 2026<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Viceroy Hotels&#8217; properties in Hyderabad benefit from the city&#8217;s growing MICE (Meetings, Incentives, Conferences, Exhibitions) and IT sector corporate travel demand. Asset-light management contracts are a growth model. The table below summarises the key data referenced in this <strong>Viceroy Hotels analyst review<\/strong>.<\/p>\n<table>\n<tbody>\n<tr>\n<th>Parameter<\/th>\n<th>Value<\/th>\n<\/tr>\n<tr>\n<td>NSE Ticker<\/td>\n<td>VICEROY<\/td>\n<\/tr>\n<tr>\n<td>Sector<\/td>\n<td>Hospitality &#8211; Hotels and Resorts<\/td>\n<\/tr>\n<tr>\n<td>CMP (May 2026)<\/td>\n<td>Rs 58<\/td>\n<\/tr>\n<tr>\n<td>52 Week High<\/td>\n<td>Rs 88<\/td>\n<\/tr>\n<tr>\n<td>52 Week Low<\/td>\n<td>Rs 47<\/td>\n<\/tr>\n<tr>\n<td>Market Cap<\/td>\n<td>Rs 500 Crore<\/td>\n<\/tr>\n<tr>\n<td>Trailing P\/E<\/td>\n<td>NAx<\/td>\n<\/tr>\n<tr>\n<td>Analyst Consensus Target<\/td>\n<td>Rs 68<\/td>\n<\/tr>\n<tr>\n<td>Bull Case Target<\/td>\n<td>Rs 95<\/td>\n<\/tr>\n<tr>\n<td>Bear Case Target<\/td>\n<td>Rs 45<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h2><span class=\"ez-toc-section\" id=\"Analyst_Insight_in_This_Viceroy_Hotels_Analyst_Review\"><\/span><strong>Analyst Insight in This Viceroy Hotels Analyst Review<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Senior Research Analyst <strong>Ankit Jaiswal<\/strong> flags Viceroy Hotels as a stock to watch in May 2026. At Rs 58, Ankit Jaiswal identifies key support in the Rs 48 to Rs 55 band and resistance near Rs 61. He suggests watching Viceroy Hotels for a potential move toward Rs 68, subject to Hospitality &#8211; Hotels and Resorts sector momentum and Nifty 50 direction. Ankit Jaiswal&#8217;s view is one input in this <strong>Viceroy Hotels analyst review<\/strong> and does not constitute a trade recommendation.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Technical_Analysis_in_This_Viceroy_Hotels_Analyst_Review\"><\/span><strong>Technical Analysis in This Viceroy Hotels Analyst Review<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>At Rs 58, VICEROY is trading within its 52-week band of Rs 47 to Rs 88. The current position relative to the 52-week high and low is the first layer of technical context for any entry or exit decision. Momentum indicators including the 14-day RSI, MACD crossover, and volume trends are useful secondary signals to monitor alongside the Nifty 50 direction.<\/p>\n<p>Near-term support is identified in the Rs 48 to Rs 55 band while resistance is seen in the Rs 61 to Rs 63 zone. A sustained move above Rs 61 could open the path toward the analyst consensus target of Rs 68 as outlined in this <strong>Viceroy Hotels analyst review<\/strong>.<\/p>\n<p><a href=\"https:\/\/univest.in\/screeners\"><strong>Screen the best stocks on the Univest Screener.<\/strong><\/a><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Key_Support_and_Resistance_Levels\"><\/span><strong>Key Support and Resistance Levels<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul>\n<li><strong>Support Zone:<\/strong> Rs 48 to Rs 55 &#8211; investors tracking this <strong>Viceroy Hotels analyst review<\/strong> should watch for stabilisation or a bounce in this range as a potential accumulation signal for VICEROY.<\/li>\n<li><strong>Resistance Zone:<\/strong> Rs 61 to Rs 63 &#8211; a sustained close above Rs 61 would be a positive breakout signal worth flagging in this <strong>Viceroy Hotels analyst review<\/strong>.<\/li>\n<li><strong>Medium-Term Target:<\/strong> The analyst consensus of Rs 68 represents the base-case upside scenario in this <strong>Viceroy Hotels analyst review<\/strong>.<\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"Business_Segment_Analysis\"><\/span><strong>Business Segment Analysis<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"Hotel_Operations_Hyderabad_%E2%80%93_Core_Market\"><\/span><strong>Hotel Operations (Hyderabad &#8211; Core Market)<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>This is the primary revenue and margin driver for Viceroy Hotels, directly supporting the earnings trajectory toward the consensus target of Rs 68.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"MICE_and_Corporate_Travel_Business\"><\/span><strong>MICE and Corporate Travel Business<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>This segment adds scale and diversification to Viceroy Hotels&#8217;s business model and is a meaningful EPS contributor through FY27 and FY28.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Asset_Management_and_Hotel_Franchising\"><\/span><strong>Asset Management and Hotel Franchising<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>This represents the medium-term growth frontier for Viceroy Hotels and a key re-rating catalyst over the next 12 to 24 months.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Valuation_in_This_Viceroy_Hotels_Analyst_Review\"><\/span><strong>Valuation in This Viceroy Hotels Analyst Review<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>At Rs 58, Viceroy Hotels trades at a trailing P\/E of NAx. This <strong>Viceroy Hotels analyst review<\/strong> presents three scenarios: a bull case of Rs 95 on strong earnings delivery and sector tailwinds, a base case of Rs 68 at analyst consensus, and a bear case of Rs 45 if macro headwinds persist. Q1 FY27 results will be the first key checkpoint for this <strong>Viceroy Hotels analyst review<\/strong>.<\/p>\n<table>\n<tbody>\n<tr>\n<th>Scenario<\/th>\n<th>Target Price<\/th>\n<th>Key Condition<\/th>\n<\/tr>\n<tr>\n<td>Bull Case<\/td>\n<td>Rs 95<\/td>\n<td>Strong earnings delivery and sector re-rating<\/td>\n<\/tr>\n<tr>\n<td>Base Case (Consensus)<\/td>\n<td>Rs 68<\/td>\n<td>Moderate growth, analyst consensus estimate<\/td>\n<\/tr>\n<tr>\n<td>Bear Case<\/td>\n<td>Rs 45<\/td>\n<td>Earnings miss or macro headwinds<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h2><span class=\"ez-toc-section\" id=\"Trade_Outlook_for_Viceroy_Hotels\"><\/span><strong>Trade Outlook for Viceroy Hotels<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Based on the technical and fundamental analysis in this <strong>Viceroy Hotels analyst review<\/strong>, investors might watch VICEROY near the support zone of Rs 48 to Rs 55 for potential opportunities. A flag above Rs 61 could suggest improving momentum toward Rs 68. This article uses watch-and-flag language only and does not constitute a trade recommendation.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Key_Risks_for_Viceroy_Hotels_in_FY27\"><\/span><strong>Key Risks for Viceroy Hotels in FY27<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>A well-rounded <strong>Viceroy Hotels analyst review<\/strong> must assess downside risks. Key risks for Viceroy Hotels include a macro slowdown affecting Hospitality &#8211; Hotels and Resorts sector demand, input cost or regulatory headwinds compressing margins, continued FII selling from Indian equities, and earnings estimate downgrades if Q1 FY27 guidance disappoints. Market conditions may change rapidly. This analysis is not financial advice; investors should perform their own due diligence before investing in VICEROY.<\/p>\n<p>Download the <a href=\"http:\/\/apps.apple.com\/in\/app\/univest-stocks-investment\/id6443753518\" rel=\"nofollow noopener\" target=\"_blank\">Univest iOS App<\/a> or the <a href=\"http:\/\/play.google.com\/store\/apps\/details?id=com.univest.capp&amp;hl=en_IN\" rel=\"nofollow noopener\" target=\"_blank\">Univest Android App<\/a> to get daily stock recommendations and expert research.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Conclusion_Viceroy_Hotels_Analyst_Review_Verdict_for_2026\"><\/span><strong>Conclusion: Viceroy Hotels Analyst Review Verdict for 2026<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>This <strong>Viceroy Hotels analyst review<\/strong> concludes that at Rs 58, VICEROY offers a defined risk-reward with a consensus target of Rs 68. The 52-week range of Rs 47 to Rs 88 provides context on the current entry point. Use this <strong>Viceroy Hotels analyst review<\/strong> as a research starting point and consult a SEBI-registered financial advisor before making any investment decisions on VICEROY.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Frequently_Asked_Questions_Viceroy_Hotels_Analyst_Review_2026\"><\/span><strong>Frequently Asked Questions: Viceroy Hotels Analyst Review 2026<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"What_is_the_analyst_target_for_Viceroy_Hotels_in_2026\"><\/span><strong>What is the analyst target for Viceroy Hotels in 2026?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>The analyst consensus target is Rs 68, with a bull case of Rs 95 and a bear case of Rs 45. This <strong>Viceroy Hotels analyst review<\/strong> recommends monitoring Q1 FY27 earnings for confirmation.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Is_Viceroy_Hotels_a_good_investment_at_Rs_58\"><\/span><strong>Is Viceroy Hotels a good investment at Rs 58?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>At Rs 58 with a P\/E of NAx and a consensus target of Rs 68, this <strong>Viceroy Hotels analyst review<\/strong> is constructive for medium to long-term investors in the Hospitality &#8211; Hotels and Resorts sector. Always consult a SEBI-registered advisor before investing.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_is_Viceroy_Hotelss_52-week_high_and_low\"><\/span><strong>What is Viceroy Hotels&#8217;s 52-week high and low?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>The 52-week high is Rs 88 and the 52-week low is Rs 47. At Rs 58, VICEROY is positioned within this range as detailed in this <strong>Viceroy Hotels analyst review<\/strong>.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_are_the_key_risks_for_Viceroy_Hotels\"><\/span><strong>What are the key risks for Viceroy Hotels?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Key risks include macro slowdown, input cost pressures, FII selling, and regulatory changes in the Hospitality &#8211; Hotels and Resorts sector, all assessed in this <strong>Viceroy Hotels analyst review<\/strong>.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Where_can_I_track_live_data_for_Viceroy_Hotels\"><\/span><strong>Where can I track live data for Viceroy Hotels?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Track Viceroy Hotels&#8217;s live price and analyst targets on the Univest Screener alongside professional financial advice to complement this <strong>Viceroy Hotels analyst review<\/strong>.<\/p>\n<p><em>Investments in securities are subject to market risk. This content is for educational purposes only and does not constitute investment advice. Please consult a SEBI-registered financial advisor before making any investment decisions.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Viceroy Hotels analyst review 2026: CMP Rs 58, MCap Rs 500 Cr, PE NAx. Hospitality &#8211; Hotels and Resorts sector technical levels. 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