#ITC2023

[fintrades]

4% fall in ITC Share Price after hotel demerger and ITC Share Price Target 2023

It was already an expected announcement which was expected by the stock market but even after it's been announced that ITC, a company with various businesses like hotels, cigarettes, FMCG, and many more but now when recently ITC announced will create a separate entity for the hotels even though it was expected by stock market still share price fell of ITC fell by 3.87% after the news came out about demerger.

ITC will still have 40% ownership of the new hotel entity so only the remaining 60% will be given to the current shareholders the main reason for the drop is that investors expected only a partial unlocking of value because of this current scenario investors thought the value unlocked as they had hoped.