Cigarettes-to-consumer goods conglomerate ITC Ltd.’s shares fell as much as 5% from Friday’s close in a special price discovery session in Mumbai to adjust for the spinoff of its hotels division.

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ITC's move to demerge its hotel division comes amid positive investor outlook for the industry as demand for travel trumps high pricing.

B&K Securities said the downside is limited for ITC Ltd,  considering the enhanced prospects from cigarette business, value unlocking from demerger of hotels business and likelihood of paper business returning to normal growth from next quarter.

ITC Hotels Stocks, ITC Hotels demerger share price updates 6 Jan 2025: ITC shares in focus. ITC Hotels Ltd. will be demerged from ITC Ltd., with the record date for the company for demerger and the ex-date for the shares of ITC set at January 6.

ITC Ltd's share price dropped over 6% in early trading on January 4, 2025, following the spin-off of its hotel business into ITC Hotels.The cigarette-to-FMCG conglomerate’s shares settled at Rs 455 on BSE and Rs 455.

I TC shares are now trading ex-demerger, which means the value of ITC shares are now ex-hotels business. At the end of a special trading session for the price discovery of ITC Hot