India's ITC Hotels slips in trading debut after spin-off

ITC Hotels

29/01/2025 04:42

Jan 29 (Reuters) - Shares of ITC Hotels  ITCT.NS  fell
2.7% in debut trade on Wednesday, following its demerger from
consumer goods firm ITC  ITC.NS .
    The stock slipped to 175 rupees on the National Stock
Exchange, compared to a discovered price of 180 rupees 
determined during a pre-open trading session.
    ITC  ITC.NS  had in July 2023 decided to spin off its hotel
business into a separately listed firm to focus on its core
cigarettes and food business.
    

 (Reporting by Hritam Mukherjee in Bengaluru; Editing by Varun H
K)
 ((Hritam.Mukherjee@thomsonreuters.com; X: @MukherjeeHritam;))