New Year, ITC Hotel Demerger And US Attacks: The Week That Was

There were a few major events that took centre stage in a week the world rang in the new year.

Alarming events like the US attacks made unsettling headlines on the global front. Back home, major events included ITC Hotels Ltd.'s demerger, the spectacular subscription of Indo Farm Equipment Ltd.'s initial public offering and India captain Rohit Sharma "opting to rest" for the fifth test match against Australia.

NDTV Profit, in its weekly news wrap every Friday, brings you the major events shaping businesses, industries and global markets. We also bring you noteworthy stories that our editors' picks.

The demerger of ITC Hotels Ltd. from ITC Ltd. came into effect from Jan. 1. Shareholders of ITC will get one share of ITC Hotels for every 10 shares they own in the parent.

Shareholders should hold shares of ITC on record date of Jan. 6 to be eligible to get shares of the ITC Hotels. The share price of ITC will adjust on Jan. 6 to reflect the intrinsic value of ITC Hotels during a special trading session.

The demerger makes ITC Hotels India's second-largest hotel chain, with 140 properties and 12,965 rooms, including a significant pipeline of 46 hotels set to open by March 2030, expanding to 186 properties with 17,265 rooms. The company operates under multiple brands, including Welcomhotel and Mementos.

A violent attack on New Year's Eve revelers in New Orleans raised concerns about domestic security in the US, just weeks before Donald Trump is set to take office as president.

The assault claimed the lives of at least 15 individuals and left many injured, triggered widespread panic and led to the cancellation of events, including a significant football game.

After this unsettling event, specifically hours later, a devastating explosion involving a Tesla Cyber-truck occurred outside of President-elect Trump's Las Vegas hotel, further unsettling the American public as they ushered in 2025.

Indo Farm Equipment's IPO was subscribed 229.68 times on its third day of bidding on Thursday. The offer was subscribed 54.55 times on its second day, and 17.71 times on its first day of bidding.

The price band for the Rs 260.2 crore-IPO was between Rs 204 and Rs 215 per share, with a market value of Rs 1,033 crore at the upper end of the price range, as per NDTV Profit's calculations.

Sharma chose to "rest" himself for the fifth Test match against Australia in Sydney on Friday, with Jasprit Bumrah taking over as the team's captain.

The 37-year-old has struggled for form in the Border-Gavaskar Test series, accumulating just 31 runs in three matches. He was also absent for the first Test to be with his family after the birth of his second child.

Ahead of the match, head coach Gautam Gambhir attended the pre-match press conference on his own, which is unusual as the captain typically participates in such briefings as part of their leadership duties.

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