Itc Share Price Discovered At ₹455.6, Down ₹27

By Author: Bizzbuzz
Total Articles: 93
Comment this article

The share price of ITC Limited was discovered at ₹455 each, down 5.6 percent or Rs 27 from the previous day’s trading session.
The share price of ITC Limited was discovered at ₹455 each, down 5.6 percent or Rs 27 from the previous day’s trading session. The development comes followed by a special pre-open session for price discovery as the company’s hotels business demerged from the cigarettes-to-FMCG conglomerate.
ITC Hotels will be maintained across the major indices (NSE and BSE) at a constant price, and three business days following the listing. If the stock breaches the crucial limits, the exclusion will be postponed by two trading days each time.
Interestingly, traders and investors cannot trade this dummy version of the stock after the special pre-open session. Trading can only commence once the scrip officially lists on the exchanges.
Following the demerger, shareholders will get one equity share of ITC Hotels for every 10 shares of ITC held. ITC will hold 40% stake in the newly-created entity. The remaining 60% would be distributed among the existing ITC shareholders.
Sharekhan ...
... said that ITC Hotels has the potential to attract a premium valuation post its listing, led by strong price discovery. The brokerage believes that shares of the newly-created entity could fall in the range of ₹150-170 apiece.
Nomura believes that ITC Hotels can list within the range of ₹200-300 apiece, thereby surpassing more estimates. The market cap could range between ₹42,500 crore to ₹62,000 crore, added the brokerage.
#Itc #Itchotels #itcsxhares #itcstock

https://www.bizzbuzz.news/markets/stock-market/itc-share-price-discovered-at-4556-down-27-1347871

Bizz Buzz, launched on November 18, 2020, is the ambitious digital-first business daily from Hyderabad Media House Limited