ITC Hotels demerger not a big game changer for shareholders: Amnish Aggarwal

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.

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