ITC’s decision to demerge its hotel business is not likely to be a game-changer for shareholders, says Amnish Aggarwal, Head-Research at Prabhudas Lilladher. The capital-intensive hotels business only accounts for around 5% of ITC’s value, with 80% attributable to its cigarettes and FMCG operations. While some expectations were built into the stock price in anticipation of the move, ITC shareholders will not see a significant value unlocking.
European shares end lower on US Fed rate, Trump jitters
European shares fell on Friday, dragged down by disappointing earnings, concerns about the impact of U.S. President-elect Donald Trump’s policies, and a jump in Treasury
November 16, 2024