ITC Hotels Share Price: Stock Hits 5% Lower Circuit, Buy?

ITC Hotels shares today listed on the bourses and witnessed decline as the scrip settled with a decline of up to 5.00%. Last trading price of ITC Hotels on BSE stood at Rs 178.60 apiece with dip of 5.00% while the last trading price of the stock is Rs 173.65 apiece with a fall of 3.53%. The stock was listed at Rs 188 apiece on Bombay Stock Exchange and at Rs 180 apiece on National Stock Exchange (NSE), respectively.

Earlier, ITC Hotels had demerged from ITC business in order to get listed as a distinct public firm in order to boost the value of its shareholders. It had set a 1:10 demerger ratio implying that shareholders holding 10 shares of ITC as on January 6, 2025 will be eligible to receive one share of ITC Hotels post demerger.

ITC Hotels Share Price: Stock Hits 5% Lower Circuit, Should You Buy At Discount?

ITC Hotels Listing

ITC Hotels shares listed at Rs 188 per share on the BSE today. On the National Stock Exchange (NSE), ITC Hotels share price listed at Rs 180 apiece. As per the demerger plan, ITC Hotels shares were directly allocated to ITC shareholders in such a manner that approximately 60% of the stake is held directly by them in proportion to their respective holding in ITC. While the remaining 40% stake stays with ITC.

ITC Hotels Shares BSE Performance

ITC Hotels shares opened at Rs 188.00 apiece, touched day’s high of Rs 189.00 per share, and day’s low of Rs 178.60 apiece. The company’s market cap on BSE stood at Rs 37,169.71 crore. ITC Hotels shares hit fresh 52-week high in trade today. It hit lower circuit today.

ITC Hotels Shares NSE Performance

Meanwhile, last trading price of ITC Hotels shares on NSE is Rs 173.65 apiece with decline of 3.53% in trade today. The stock opened at Rs 180.00 per share, touched day’s high of Rs 180.00 per share, and day’s low of Rs 171.8 apiece. The 52-week high price of ITC Hotels shares on NSE is Rs 180.00 per share and 52-week low price is Rs 171.00 per share. ITC Hotels Share NSE hit lower circuit today.

Should You Buy ITC Hotels Share?

Leading brokerage firm ICICI Direct recommended buy call to ITC Hotels shares for long term. Meanwhile, Prashanth Tapse, Senior VP Research Analyst at Mehta Equities assigned accumulate call to the stock on listing day. The analyst said the stock is likely to worth in the range of Rs 250-Rs 300 after listing. The analyst suggested Rs 300 per share target price for next 12 months. The stock is expected to perform nicely post listing. The analyst said the stock is likely to perform better post listing.

ITC Hotels Financials

According to KR Choksey, “we project a revenue/EBITDA/PBT CAGR of 15.0%/18.3%/17.2% over FY24-FY27E, with an expected EBITDA margin of 36.0% in FY26E and FY27E. This growth is underpinned by a strong expansion strategy and favourable trends within the hospitality sector. With a debt-free balance sheet and robust cash flow generation, ITC Hotels Ltd (ITCHL) is well-positioned to capitalize on value-accretive M&A opportunities.”

Disclaimer

The stock has been picked from the brokerage report of Mehta Equities and KR Choksey. Moneydaily.in, the author, and the respective brokerage house will not be held accountable for any losses caused as a result of decisions based on the article. Moneydaily.in advises readers to do their own research or consult a SEBI registered investment advisor before making any investment decisions.