ITC Share Price Drops ₹27 After Ex-Hotels Spin-Off: Buy Or Sell?

ITC shares have dropped ₹27, trading at ₹455.60 after the company demerged its hotels business. This price adjustment follows a special pre-open session for price discovery of ITC Hotels on the stock exchanges.

Shares of ITC will now exclude its hotel business, and ITC Hotels’ share price will be fixed for now, with a listing date yet to be announced.

Should You Buy ITC Shares? Experts suggest that ITC shares have strong support at ₹430-₹450. Investors are advised to buy on dips in this range and set a stop-loss at ₹400. The stock could rise to ₹480 and possibly ₹520 if it closes above ₹480.

Demerger Details:

• ITC’s demerger ratio is 1:10, with one ITC Hotels share for every 10 ITC shares.
• ITC Hotels’ listing date is still pending, but it will soon be part of Nifty 50 and Sensex.

#ITC #Stocks #Demerger #Investing #SharePrice #ITCHotels #MarketUpdate