ITC's cash cows: Gains from investments in EIH, Leela touch Rs 11 billion

ITC chairman Y C Deveshwar says the company had bought EIH shares when they were around Rs 35 a piece

Diversified conglomerate ITC's mark-to-market gains from its investment in EIH and Hotel Leelaventure touched Rs 11 billion.

Much of the gains, however, is from EIH, which manages the Oberoi chain of hotels. ITC's investment in EIH dates back to the 2000. Hotel Leelaventure followed a few years later, said Rajiv Tandon, executive director and chief financial officer of ITC.

Tandon said that of the Rs 11 billion gains, Rs 10 billion was on account of EIH. ITC chairman Y C Deveshwar had said on Friday at the annual press conference that the company had bought EIH shares when they were around Rs