Page 6 - Itc Hotels

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

ITC hits new high, up for the 5th straight day; soars 32% so far in 2023

Analysts raised their cigarette volumes growth estimate for FY24E considering market share gains from illicit cigarettes as well as strong growth in high price cigarettes.

ITC rally has more legs on FMCG biz scale up, high cigarette vols: Analysts

ITC share: The stock has firmly outperformed the benchmark returns by rallying 56 per cent over the last year versus a 3% and 23.5% gain in the Nifty50 and Nifty FMCG indices during this time

The Ashok Hotel divestment: 1956-built hotel to undergo a structural audit

Ashok's divestment has drawn interest from all the big hospitality players, including Taj Hotels, Hilton, DLF, JLL, Brookfield-backed HLV Ltd and Wyndham Hotels

ITC to add 3 properties under Welcomhotel in MP, Himachal, Uttarakhand

ITC Hotel Group's upper upscale brand Welcomhotel is planning to add three more properties in Madhya Pradesh, Himachal Pradesh and Uttarakhand. Recently, ITC inked a deal to open 136-room Welcomhotel Gwalior, which is spread over 7 acres and slated to open by 2025, the hospitality company said in a statement. The firm will be opening a 46-key hotel in Manali in a few months, it added. The company will also open a hotel in Dehradun under a management contract with Unique Hotels and Restaurants. The existing property is in the process of being converted into a 78-key hotel. "The signing of more properties under the upper upscale Brand Welcomhotel is in line with ITC Hotels' expansion plan to take our brand and services to tier II markets in addition to prime metro cities," ITC Hotels Divisional Chief Executive Anil Chadha said.

ITC Hotels launch Mementos Udaipur, its first Mementos property in India

ITC's Hotel Group has announced the opening of its first Mementos property by ITC Hotels, Ekaaya, Udaipur, under the new brand - Mementos

G20, IPL helping hotel industry; surge in demand here to stay: Experts

It is interesting to see that the new business opportunity is fuelled by India's G20 presidency. The G20 meetings have added to the demand in cities that are slated to host key events

Our Ebitda share from non-cigarette biz at 27%: ITC CMD Sanjiv Puri

As part of the ITC Next strategy, we are making sure that the organisation remains agile, nimble and consumer-centric at all times

ITC cooks up a storm, sets up 12 cloud kitchens and 48 brand outlets

A key lever of the ITC Next strategy is to spot new opportunities at the intersection of digital, sustainability and enterprise strengths

ITC Q2 net profit rises 24% to Rs 4,619.77 crore; revenue up 24.4%

The company attributed the performance to strong and broad-based growth across markets and channels

After over 50% rise in 2022, is the stupendous rally in ITC fizzling out?

However, the counter has lost over 5 per cent from its recent high of Rs 346.25 hit on September 23, 2022 and has underperformed the S&P BSE Sensex, which has lost nearly 2 per cent since then

With new hotel brands, ITC checks in with 'house of brands' model

ITC has launched two brands - Storii, in the boutique premium segment, offering immersive experiences, and Mementos, a collection of unique luxury properties across destinations