ITC's two investments in the hotel sector take different directions

The investment in both the stocks, however, was about the same, around Rs 200 crore, though ITC did subscribe to EIH's rights issue in 2011.

Tobacco-to-hotels major ITC’s mark-to-market gains from its investment in EIH, which owns the Oberoi chain of hotels, stood around Rs 400 crore in 2018-19.

The value of ITC’s investment in EIH was at Rs 1,763.37 crore as on March 31, 2019, compared to Rs 1,362.24 crore in the previous year, according to the latest annual report. In contrast, the value of ITC’s other investment in the hotels space, Hotel Leelaventure, eroded from Rs 85.42 crore to Rs 54.45 crore in the same period.

ITC’s two investments in the hotels sector have been moving in divergent directions. The investment in both the stocks,