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.
ITC shares will turn ex-dividend on Tuesday, May 30, 2023, meaning the stock price will get adjusted for the dividend payout. ITC share price fell around 1% today to hit an intraday low of Rs 441 on NSE. Watch this Visual Story to check ITC dividend record date, payment date, and other details.
ITC Ltd, the cigarette-to-hotels conglomerate, has now become the seventh-largest Indian company in terms of market capitalisation, overtaking housing finance major HDFC. ITC's market cap touched Rs 5.05 trillion as the stock hit a 52-week intraday high of Rs 407.60. The recent growth is due to various factors such as ITC benefitting from stable commodity prices, a favourable tax regime, and rising consumer demand. Brokerages Motilal Oswal and HDFC Securities Institutional Research Desk have maintained a 'buy' and 'add' rating respectively., Markets News, Times Now