ITC scouts alternate structures for hotel biz; stock up 50% so far in 2022

According to reports, ITC Hotels could soon be a separately listed entity, carved out of the parent cigarette-to-branded packaged food conglomerate.

Shares of ITC hit fresh multi-year high of Rs 330.55, up 1 per cent on the BSE in Thursday’s intra-day trade. The spike comes after reports emerged that the company plans to explore alternate structures for their hotel business. ITC Hotels could soon be a separately listed entity, carved out of the parent cigarette-to-branded packaged food conglomerate, reports suggested.

ITC would pursue the "asset-right" strategy for its hotel business to ensure that the diversified conglomerate remains competitive and contemporary, and continues to deliver superior performance, the PTI reported quoting its chairman Sanjiv Puri. CLICK HERE FOR FULL