BAT's chief executive Tadeu Marroco in a post-results analysts meeting said that they have no interest in staying invested in ITC Hotels for the long term and they will figure out the the right time
Stocks to Watch, Feb 14, 2025: From Nazara Tech to Hindalco, here are a few stocks that will on investors' and traders' radar during today's market session
Reiterating BAT's position on ITC Hotels, Marroco said at a post-results analyst meet, "BAT has no interest in becoming a long-term shareholder of a hotel chain in India
ITC Hotels share price: Jefferies has estimated ITC Hotels share price target at Rs 240 in their base case, Rs 280 in bull case, and Rs 140 in bear case
In Q3FY25, ITC Hotels Ebitda margin expanded by 450 bps Y-o-Y driven by higher RevPAR or Revenue per Available Room, operating leverage and strategic cost management initiatives
Shares of the luxury hotel operator last closed at Rs 165, down 4.2 per cent, with over Rs 700 crore worth of shares changing hands
Buoyed by the government's policy interventions for the hospitality sector and a flourishing domestic tourism industry, ITC Hotels has strong growth enablers in place.
Spun-off unit to open 200 hotels in five years
ITC Hotels listing today: ITC Hotels listed at Rs 188 per share on the BSE on Wednesday, January 29, 2025. On the NSE, ITC Hotels share price listed at Rs 180 per share
In a recent conversation with Business Standard, Chadha said: "It is something we are exploring, but have not settled for any specific model yet"
Shares of ITC Hotels Ltd, the demerged hotels business of FMCG conglomerate ITC Ltd, will list on the stock exchanges on January 29. Demerger of ITC's hotel business came into effect on January 1, 2025, with January 6 fixed as the record date. The move separated ITC Hotel from the parent entity. Following this, the equity shares of ITC Hotels will be listed and admitted to dealings on the exchange with effect from January 29, 2025, according to a circular by the National Stock Exchange (NSE). "The equity shares of ITC Hotels Limited...shall be traded in Series 'BE' and subsequently be shifted to Series 'EQ'," it added. Separately, ITC, in a regulatory filing, informed that ITCHL received approval from the National Stock Exchange of India Ltd and BSE Ltd for listing and trading of its equity shares effective January 29, 2025. On January 6, the BSE and NSE conducted a special trading session to discover the price for ITC hotels business post demerger. As per the demerger scheme, IT
ITC plans to expand its hotel business internationally, beginning with neighbouring countries and West Asia, its Chairman and Managing Director Sanjiv Puri said. The cigarettes-to-consumer goods conglomerate has demerged its hotels division and the new company will list on bourses in the next couple of weeks. The date of ITC Hotels Ltd listing is yet to be announced but Puri said it will happen in "next few weeks". India's most-valued consumer company selling a wide variety of goods from cigarettes to paper, also operates 140 hotels, almost all of them in India. ITC's shareholders will own 60 per cent in the new unit, with the parent company retaining the rest. "So as far as overseas is concerned, we are starting to (expand). We have been India-centric, but we have started to go beyond India. We have a hotel in Colombo. We have one in Nepal. There is one more in Nepal that we have signed up for. "And over a period of time, we will expand (overseas), primarily more focused on proxi
The hospitality giant has cash and cash equivalent of Rs 1,500 crore
Passive MF schemes, especially those tracking the Nifty 50 and Sensex, will need to offload their holdings in ITC Hotels as the stock will be excluded from these indices
Even as hotel shares fell up to 5% on Monday; technical charts hint up to 15% upside potential for Mahindra Holidays, TAJ GVK, Apollo Sindoori, ITDC, EIH, Oriental Hotels and Advani Hotels.
The ITC Hotels' shares will not be listed on the NSE and BSE immediately after the record date, they are expected to list by mid-February 2025
Here is the complete list of companies whose shares will trade ex-date next week, along with their key corporate announcements as per data available on the BSE
ITC's spunoff unit to remain part of Sensex, Nifty for 3 days post-listing to help index funds navigate change
Technically, ITC is seen trapped in a thin range of Rs 460 - Rs 490 for now. Meanwhile, analysts at SBI Securities are optimistic of ITC's prospects post demerger and see 15% upside for the stock.
ITC stock surged over 88 per cent after the company's board approved the hotel demerger in August 2023; at present levels, the stock is down 11 per cent from its peak. Key levels to watch out now.