JM Financial starts India's ITC Hotels with 'sell'; stock down

ITC Hotels

25/08/2025 06:00

** JM Financial starts ITC Hotels ITCT.NS with "sell", PT at 215 rupees

** Says growth will be restricted due to no new hotels being commissioned in near-term, stretched valuation

** Stock rated "buy" on avg; median PT at 270 rupees, per data compiled by LSEG

** ITCT drops ~1% to 243 rupees

** Stock gains 42% since listing on January 29

 (Reporting by Komal Salecha)

 ((Komal@thomsonreuters.com;))