ITC Demerger: Board Approves of Hotels Business In Principle; Stock Drops Over 4.3%; triggered negative sentiments
Introduction ITC Demerger: ITC Ltd., a well-known conglomerate with a wide range of companies, has made a big move toward restructuring its corporate structure. The demerger of ITC’s hotel division has received the board’s in-principle approval, opening the door for a fully owned subsidiary called ITC Hotels. This tactical move attempts to maximize the value…