As a standalone company, the hotels business should command a similar valuation to that of the leading listed hotels firm, Indian Hotels, and the combined value of the two entities will likely exceed ITC’s current market cap
ITC share price (ITC Hotel) to range between ₹15 to ₹27 after the demerger, believes brokerages. The National Company Law Tribunal has given in-principle permission for the demerger, with more details to be provided in a management call on July 27th.
Shares of ITC extended their recent fall to the third straight session on Tuesday. The stock fell over 3% to hit an intraday low of Rs 455.40 on NSE. The slump comes after the FMCG major announced the much-awaited demerger of its hotels business under a scheme of arrangement. Watch this Visual Story to see if what this demerger means for shareholders. Also, check ITC Hotels expected share price, ITC share price target, and more.