ITC Hotels has chartered a new chapter, in the ITC story, as the hospitality arm of a Kolkata-based conglomerate, ITC got itself listed on the equity markets as a separate entity.
ITC Hotels Enters Dalal Street
This make ITC Hotels, the only second company to be listed from the house of ITC, part of the flagship ITC.
ITC Hotels shares opened at Rs 180 per piece at the National Stock Exchange (NSE) and Rs 188.00 per piece at the Bombay Stock Exchange (BSE).
Decline in Shares
Ever since its opening the hotel company's shares have declined by 4.06 per cent or Rs 7.30, taking the overall value to Rs 172.70 per share at the NSE.
Meanwhile, at the BSE end, the ITC Hotels shares were trading at Rs 178.60, post a decline of Rs 9.40 or 5.00 per cent.
The company has a total market cap of Rs 35,941.82 crore.
When we look at parent company, ITC shares also descended in decline on Wednesday.
ITC Shares On Wednesday
While, the company shares opened in green at Rs 435.95, higher than the previous day's closing of Rs 435.45 per share, the value of the company shares declined thereafter.
At the time of writing, the shares of ITC were trading in red with a decline amounting to 0.28 per cent or Rs 1.20. This has brought down the overall value of ITC shares to Rs 434.25.
Over the past month, the shares of ITC have witnessed a period of large decline.
The company shares have declined by 8.96 per cent or Rs 42.75 in a month. And in the larger picture, the company shares dipped by 12.46 per cent or Rs 61.80 in the 6-month period.
The decision to segretgate the two businesses was taken in 2024 when the conglomerate announced the demerger of the companies, effective January 1.
