ITC Limited began trading at ₹455.60 today, reflecting a 5.4% decline from its previous close of ₹482, as the stock turned ex-demerger for its hotel business. The demerger marks a significant restructuring for the company, with ITC Hotels set to operate as a separate entity.
Key Highlights:
- Demerger Details: ITC shareholders will receive one share of ITC Hotels for every 10 shares of ITC held. Post-demerger, ITC shareholders will retain 100% ownership of ITC Hotels, split between 60% directly and 40% indirectly through ITC.
- Special Pre-Open Session: A pre-open trading session was conducted by NSE and BSE for price discovery. However, ITC Hotels shares will not trade today.
- Stock Movement: In the previous session (January 3, 2025), ITC shares closed at ₹482, with an intraday high of ₹490.95 and a low of ₹480. The 52-week high for the stock is ₹528.55, while the low is ₹399.3.
- Market Capitalization: ITC’s market cap stood at ₹6,03,064.44 crore as of January 3, 2025.
ITC Hotels Listing:
Stock exchanges have created a dummy ticker for ITC Hotels, reflecting it as the 51st Nifty stock and the 31st Sensex stock. Analysts anticipate ITC Hotels will formally list by mid-February 2025. This restructuring positions ITC Hotels as an independent entity with significant growth potential in the hospitality sector.
The market will closely watch ITC’s performance post-demerger and ITC Hotels’ listing to assess the overall impact on shareholder value.
TOPICS:
ITC