Indian conglomerate ITC could demerge its hotel business, according to reports. The move to create an alternate structure to the struggling arm, which accounts for over 20% of the company s capex, would enable ITC to overcome concerns over the high capital expenditure on the hotels business and subpar returns
ITC stocks have been on a bull run this year, having gained over 32 per cent since January. In the past 12 months, shares of the cigarette maker have surged over 61 per cent and over 100 per cent in the past two years. Will the rally continue?