ITC Ltd.'s share price adjusted nearly 6% in the special pre-open session on their ex-date for hotels business' demerger on Monday. ITC shares adjusted by Rs 27 per share on BSE to settle at Rs 455, down 5.93%. On NSE, the counter dipped 5.4% lower to settle at Rs 455.60 apiece.
The eligible shareholders will receive one share of the demerged ITC Hotels Ltd., for every 10 shares of the parent they hold. The record date for the demerger also falls on Monday, which means shareholders in ITC's books as of today will be considered eligible.
-
Indian Markets Turning Corner After Two Tough Years, Says Sandeep Tandon -
NDTV Profit Ignite 2026: Experts See Opportunity In Equities, Stay Bullish For Long-Term -
Buy Right, Sit Tight Does Not Work for Individual Stocks, Says Dinshaw Irani -
'Worst Is Behind': Quant MF Sees Market Bottom, Flags 'Extreme Euphoria' In Midcaps -
India's Mutual Fund Industry Could Become A $1 Trillion Opportunity, Say Fund Managers -
'Foreign Investors Are Baraatis': Raamdeo Agrawal's Take On LTCG Tax -
Stay Invested Through Market Cycles: Raamdeo Agrawal at NDTV Profit Ignite -
Ramesh Damani Remains Bullish On India For Next 20-30 Years, Sees Bargains Amid Market Weakness -
CAS Came After A Long Consultation Process: SEBI Chairman Tuhin Kanta Pandey AT NDTV PROFIT IGNITE -
Aim To Cut FPI Onboarding Time From Mth To Five Days: SEBI Chairman Tuhin Kanta Pandey AT NDTV PROFI
The demerger came into effect on Jan. 1, according to the company's disclosures.
ITC Hotels poised to become India's second-largest hotel chain with a portfolio of 140 hotels and 12,965 keys. Additionally, the company has a robust expansion pipeline, which will bring the total number of properties to 186, offering a total of 17,265 keys by March 2030.
ITC Share Price
ITC stock fell as much as 5.40% after the special pre-open session on NSE today to Rs 455.60 apiece. Meanwhile, the the benchmark Nifty 50 was 0.23% decline as of 9:51 a.m.
The ITC stock has risen 2.13% in the last 12 months. The total traded volume so far in the day stood at 30 times its 30-day average. The relative strength index was at 35.9.
Of the 39 analysts with a rating on the company, 34 have a 'buy' call, three recommend 'hold', and two suggest 'sell', according to Bloomberg data. The 12-month analysts' consensus target price on the stock is Rs 540.11, implying a upside of 12.1%.
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.