Page 5 - Itc Hotels

Chocolate tree, local produce: How hotels went all out for G20 Summit

ITC Hotels was entrusted with the task of catering for the presidential and prime minister's banquets

ITC hits 2-month low; stock down 12 per cent from record high

The board of ITC on Monday approved the Hotel demerger, with share entitlement ratio of 10:1 for the demerged entity.

ITC rises 2% in a weak market as brokerages give thumbs up to Q1 results

The company clocked 16.2 per cent year-on-year (YoY) rise in consolidated net profit to Rs 5,104.9 crore in Q1FY24

Tobacco-to-soap conglomerate ITC approves hotel business spin-off

The decision to spin off its upmarket lodging arm had been widely anticipated by analysts and investors

ITC board approves demerger of hotel business; listing in 15 months

Trademarks jointly used by ITC's other businesses and hotels business would be licensed to ITC Hotels, on mutually agreed terms

ITC Q1FY24 results: Net profit rises 16% to Rs 5,180 cr, revenue down 6%

The company also announced acquisition of 45.36% stake in International Travel House Limited and 25% stake in Maharaja Heritage Resorts Limited

ITC holding in hotel business key to its success, says CMD Sanjiv Puri

Move will help it use ITC logo and brands; entire demerger process may take 12-15 months

ITC AGM, Q1FY24 nos: When will the stock breakout from consolidation mode?

ITC shares have corrected 10 per cent from their record high level of Rs 499.6, hit on July 24, 2023, as investors booked profit post the hotel business' demerger announcement

ITC, select Marriott International hotels promote millet in India, APAC

The ITC Hotels on Monday said it has embarked on an initiative to introduce an expansive range of millet-based bread, available across ITC Hotels and select Marriott International hotels in India and the Asia-Pacific (APAC) region. Other millet-based food will also be available in APAC region countries such as Japan, South Korea, Australia and Indonesia. It seeks to contribute significantly to India's role in advocating the benefits of millets globally, commemorating 2023 as the International Year of Millets in partnership with the United Nations, the hotel chain said in a statement. These millet bread, brimming with essential nutrients, cater to the discerning taste of health-conscious consumers, it said. The menu boasts of offerings like Sorghum Sundried Tomato Sourdough Bread, Foxtail Millet and Carrot Bread, Multi Millet and Turmeric Loaf, and Pearl Millet Focaccia each promising an exquisite culinary experience. Beyond the realm of bread, the gastronomic journey extends to I

ITC hotel demerger financially win-win, says chairman Sanjiv Puri

Financial ratios to improve significantly for ITC, while new entity will start with strong balance sheet

Demerged hotels biz will have a strong balance sheet: ITC chairman

Chairman and managing director of ITC Limited Sanjiv Puri on Thursday said that the proposed demerged hotels business will have a strong balance sheet and also be debt-free. Speaking to analysts over concall, Puri said the new entity when it comes into being, will be able to raise capital, either through debt, equity or from strategic investors when required. This is up to to the board of the new entity to determine when such capital is required, Puri said, adding that it will work on a asset-light model requiring modest amount. On July 24, the board of ITC gave in-principle approval to demerge the hotels business into a new entity to be listed pursuant to a scheme of arrangement. In the new entity, ITC will directly hold 40 per cent of equity while the balance 60 per cent will be owned by the shareholders of the company. Puri said "ITC will stay invested in the hotels business with this holding and also draw synergies for its foods vertical from the demerged entity." Puri said "

TMS Ep485: ITC hotel demerger, Russian crude oil, textile stocks, demerger

What does demerger of hotel biz mean for ITC? Are the days of cheap Russian crude over for India? Why are analysts wary of textile stocks? What is demerger? All answers here

ITC hotel biz demerger allays capital allocation concerns, say analysts

Some investors may have preferred a vertical split (100 per cent direct). This move will not likely have a big implication for ITC's share price, wrote analysts at Jefferies in a note

ITC board gives in-principle approval for demerger of hotels business

The move may improve ITC's ROCE by 2,000 bps

Demerger to boost ITC's cash flows, create India's 2nd biggest hotel group

The demerger will however have only a marginal negative impact on ITC overall earnings and share price given the hotel division miniscule contribution to its consolidated finances

Demerger of hotel biz will boost capital efficiency ratios of ITC: Analysts

The demerger of the hotels business of ITC Limited into a separate entity will boost the capital efficiency ratios of the diversified conglomerate, equity analysts said on Monday. ITC on Monday announced that the board of the company has accorded in-principle approval to demerge the hotels business into a new entity to be listed pursuant to a scheme of arrangement. "It is a great demerger. It will boost the return on capital of ITC and its capital efficiency ratios will go up by almost 20 percentage points," IIFL analyst Nemkumar said. Under the scheme of arrangement, ITC will hold 40 per cent in the new entity and the balance will be held directly by the company's shareholders proportionate to their holdings. "The demerger process will take around nine to 12 months and every shareholder of ITC holding 100 shares will get 60 scrips of the new entity," Nemkumar said. The market was of course expecting the demerger, he added. Another analyst said that the demerger process will unl

ITC dips 4% after board gives in-principle approval to demerge hotel biz

The Board has also approved incorporation of a wholly owned subsidiary of the company to be named ITC Hotels Limited

ITC approves demerger of hotel business to form new entity 'ITC Hotels'

ITC will hold a 40 per cent stake in ITC Hotels, and the rest 60 per cent, will be held by the shareholders of the company proportionate to their shareholding

What's cooking in ITC's kitchen that's made analysts bullish on the stock?

Analysts at Jefferies beleive the stock could top the Rs 600-mark, an upside of over 34 per cent from current levels

World Cup fever: Advance bookings cost Rs 50K per night in Ahmedabad

In normal circumstances, these rooms can be booked for Rs 6,500-10,000