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ITC hotel demerger: The demerger is expected to unlock value through the creation of a pure play hotels entity, which would have a business focus aligned to the specific market dynamics in India.
The big sale by BAT turned out to be a blessing in disguise rather than a nightmare for shareholders of ITC, as the stock shot up nearly 9% intraday. The stock ended 4.5% higher on the BSE at Rs 422.40. This indicates the strong institutional interest in the stock given the upbeat growth outlook. ....