Page 4 - Itc Hotels

ITC hotels to list on stock exchanges on Jan 29 after split: NSE circular

Shares of ITC Hotels Ltd, the demerged hotels business of FMCG conglomerate ITC Ltd, will list on the stock exchanges on January 29. Demerger of ITC's hotel business came into effect on January 1, 2025, with January 6 fixed as the record date. The move separated ITC Hotel from the parent entity. Following this, the equity shares of ITC Hotels will be listed and admitted to dealings on the exchange with effect from January 29, 2025, according to a circular by the National Stock Exchange (NSE). "The equity shares of ITC Hotels Limited...shall be traded in Series 'BE' and subsequently be shifted to Series 'EQ'," it added. Separately, ITC, in a regulatory filing, informed that ITCHL received approval from the National Stock Exchange of India Ltd and BSE Ltd for listing and trading of its equity shares effective January 29, 2025. On January 6, the BSE and NSE conducted a special trading session to discover the price for ITC hotels business post demerger. As per the demerger scheme, IT

ITC Hotels plans to expand business internationally post-demerger

ITC plans to expand its hotel business internationally, beginning with neighbouring countries and West Asia, its Chairman and Managing Director Sanjiv Puri said. The cigarettes-to-consumer goods conglomerate has demerged its hotels division and the new company will list on bourses in the next couple of weeks. The date of ITC Hotels Ltd listing is yet to be announced but Puri said it will happen in "next few weeks". India's most-valued consumer company selling a wide variety of goods from cigarettes to paper, also operates 140 hotels, almost all of them in India. ITC's shareholders will own 60 per cent in the new unit, with the parent company retaining the rest. "So as far as overseas is concerned, we are starting to (expand). We have been India-centric, but we have started to go beyond India. We have a hotel in Colombo. We have one in Nepal. There is one more in Nepal that we have signed up for. "And over a period of time, we will expand (overseas), primarily more focused on proxi

India seeing golden era of development: ITC Hotels MD Anil Chadha

The hospitality giant has cash and cash equivalent of Rs 1,500 crore

Passive funds have to sell Rs 1.5K crore ITC Hotels shares after listing

Passive MF schemes, especially those tracking the Nifty 50 and Sensex, will need to offload their holdings in ITC Hotels as the stock will be excluded from these indices

ITC demerger: 7 hotel stocks with up to 15% upside potential as per charts

Even as hotel shares fell up to 5% on Monday; technical charts hint up to 15% upside potential for Mahindra Holidays, TAJ GVK, Apollo Sindoori, ITDC, EIH, Oriental Hotels and Advani Hotels.

BSE, NSE to hold special session for ITC-ITC Hotels demerger: What we know

The ITC Hotels' shares will not be listed on the NSE and BSE immediately after the record date, they are expected to list by mid-February 2025

Dividend, Bonus, stock-split: Shriram Fin, 9 others to go ex-date next week

Here is the complete list of companies whose shares will trade ex-date next week, along with their key corporate announcements as per data available on the BSE

ITC Hotels' demerger to mirror Reliance Industries-Jio Financial playbook

ITC's spunoff unit to remain part of Sensex, Nifty for 3 days post-listing to help index funds navigate change

ITC demerger: Analysts upbeat on ITC share outlook; support seen at Rs 442

Technically, ITC is seen trapped in a thin range of Rs 460 - Rs 490 for now. Meanwhile, analysts at SBI Securities are optimistic of ITC's prospects post demerger and see 15% upside for the stock.

How to trade ITC stock in the run-up to Jan 1 hotel demerger date

ITC stock surged over 88 per cent after the company's board approved the hotel demerger in August 2023; at present levels, the stock is down 11 per cent from its peak. Key levels to watch out now.

ITC share price up 5% after Q2 results; Analysts say 'Buy', revise target

ITC's consolidated profit for the period came in at Rs 5,054.4 crore, up 1.8 per cent year-on-year (Y-o-Y), from Rs 4,964.5 crore in the same quarter a year ago (Q2FY24).

ITC demerger update: Stock gains over 2% on NCLT approval; details

The demerged company, ITC, is a listed company, while the resulting company, ITC Hotels, is presently unlisted. ITC shares are listed on the NSE, and BSE

ITC chairman announces investment of Rs 20,000 cr for 'medium term'

Company has 'unwavering confidence' in country's economic growth, says Sanjiv Puri

ITC shareholders approve demerger of hotel biz with 99.6% majority votes

ITC Hotels will compete as an independent entity with rivals such as Tata-owned Indian Hotels Company, which operates Taj Hotels, and EIH Associated Hotels, which manages the Oberoi brand of hotels

ITC Hotel Ltd's demerger plan gets approval from competition watchdog

The Competition Commission of India (CCI) on Tuesday approved the demerger of the hotel business of diversified entity ITC Ltd into a separate entity. After the completion of the demerger, shares of ITC Hotels Ltd, a new entity, will be listed on the stock exchanges. The proposed combination relates to the demerger of the demerged undertaking to ITC's wholly-owned newly incorporated subsidiary, ITC Hotels. Following the demerger, shares of ITC Hotels will be listed. ITC will continue to hold a 40 per cent stake, while the remaining 60 per cent will be held by the conglomerate's shareholders, according to a notice on the CCI website. ITC has diversified businesses in India spanning from FMCG, hotels, paperboards, paper and packaging, and agri-business. The proposed combination is only an internal restructuring exercise which will not result in any change in market dynamics, ITC said in the notice. "Commission approves demerger of Hotels Business of ITC Ltd to its wholly-owned ...

Voting advisory firms divided over FMCG major ITC hotel demerger move

IiAS recommends 'against' vote; InGovern, SES bat the deal

ITC expands global footprint with maiden overseas hotel in Colombo

The newly inaugurated property, ITC Ratnadipa, situated on prime sea-facing land spanning 5.86 acres in Colombo, boasts 352 guest rooms, suites, and service apartments

ITC plans to open more hotels overseas with West Asia in focus: CMD Puri

India's diversified entity ITC plans to open more hotels overseas with neighbouring countries and the Middle East as primary target markets after opening of its first international property here, company Chairman and Managing Director Sanjiv Puri said on Thursday. The company's arm ITC Hotels, which had opened 22 new properties in the last 24 months, plans to add another 70 hotels in the next five years in India as part of expansion plans in the hospitality sector. Besides the hotels business, the company will look for opportunities to expand the presence of FMCG and other verticals in new overseas markets as well. "We are open to exploring opportunities that come about. I think we have strong credentials in hospitality which we can take outside India now. Very clearly at the moment the focus is on proximal markets, be it for hospitality, be it for FMCG...," Puri said here at a press conference after the opening of the 352-room luxury property, ITC Ratnadipa here. He said as the .

BAT likely to sell 3.5% stake in ITC for Rs 17K crore on Wednesday

British firm will use the proceeds of block trades to buy back own shares

ITC inks pact with Narne Hotels and Resorts to open Welcomhotel in Coorg

ITC Hotels on Monday said it has signed a management agreement with Narne Hotels and Resorts to open a 150-key property under Welcomhotel brand at Madikeri hill town in Coorg, Karnataka. "Madikeri is an important market for us. Over recent years, this region has grown in popularity and we saw a niche space for leisure travel. Through Welcomhotel Madikeri we bring the signature hospitality of ITC Hotels to this beautiful city," ITC Hotels Divisional Chief Executive Anil Chadha said in a statement. With this agreement, ITC Hotel group further strengthens its presence in Karnataka, where it currently operates 11 hotels and over 1,300 rooms under various brands including ITC Hotels, Welcomhotel, Fortune and Welcomheritage, he added.