ITC Hotels Share Price Highlights: The equity shares of ITC Hotels Ltd were listed on Indian stock exchanges today, January 29. ITC Hotels is a demerged entity of cigarettes-to-FMCG conglomerate ITC Ltd. ITC Hotels share price was listed at \u20b9188 apiece on the BSE, and on NSE, ITC Hotels shares were listed at \u20b9180 apiece. The stock was listed over 30% discount to the discovered price, but better than analysts’ expectations. ITC Hotels discovered price was \u20b9260 per share on the NSE and \u20b9270 per share on the BSE. However, the stock declined during debut session and ended sharply lower. On BSE, ITC Hotels shares closed at 5% lower circuit, while the stock settled 3.53% lower on NSE.<\/p>\n\n\n\n
ITC Hotels shares will be removed from Nifty 50 and Sensex on T+3 day, which is listing, plus three business days. ITC Hotels demerger ratio was 1:10, meaning existing ITC shareholders received 1 ITC Hotels share for every 10 ITC shares. The parent ITC Ltd retained a 40.0% stake in the new entity, with the remaining 60.0% distributed to shareholders.<\/p>\n\n\n\n
ITC Hotels Share Listing Highlights: ITC Hotels share price ended sharply lower on the listing day, January 29. ITC Hotels shares closed at 5% lower circuit of \u20b9178.60 apiece on the BSE. The stock was listed at a 31% discount at \u20b9188.00 earlier today.<\/p>\n\n\n\n
On NSE, ITC Hotels stock price ended the debut session 3.53% lower at \u20b9173.65 apiece. The stock was listed at \u20b9180.00 apiece on the bourse.<\/p>\n\n\n\n
ITC Hotels Share Listing Live: Ganesh Dongre, Senior Manager – Technical Research at Anand Rathi has suggested a \u2018buy on dips\u2019 strategy for ITC shares. \u201cInvestors can buy ITC shares on dips, keeping a stop loss at\u00a0\u20b9415 – 410 levels, and for a target range of\u00a0\u20b9453 – 475. If ITC stock breaches above\u00a0\u20b9450 level, more aggressive buying can be initiated for a target of\u00a0\u20b9480 – 490,” Dongre said.<\/p>\n\n\n\n
ITC Hotels Share Listing Live: ITC share price traded marginally lower on Wednesday after the listing of ITC Hotels shares. According to Ruchit Jain, Vice President, Equity Technical Research, Motilal Oswal Financial Services Ltd., technical charts suggest ITC shares are in a consolidation phase.<\/p>\n\n\n\n
\u201cITC shares are trading in a range of \u20b9430-460 for a few weeks. There are no signs of a breakout or any upside. Hence, we believe this consolidation phase in ITC shares will continue,” Jain said.<\/p>\n\n\n\n
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