Shares of ITC were trading higher in Tuesday’s trade after the FMCG major said the appointed and the effective date of the demerger of its hotels business ITC Hotels Ltd will be January 1, 2025. The NCLT, Kolkata Bench, has sanctioned the scheme of arrangement among ITC and ITC Hotels and their respective shareholders and creditors and the said order was received by ITC December 16 at 5.26 pm, ITC informed BSE and NSE on Tuesday.
ITC shares were trading 0.63 per cent higher at Rs 473. The FMCG stock has risen 12 per cent in 2024 so far against 1.1 per cent rise in the BSE FMCG index during the same period.
“We further advise that ITC Limited and ITC Hotels Limited have mutually acknowledged that all the conditions specified in Clause…
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