MARKETS
Cigarettes-to-hotes conglomerate ITC's shares are scheduled to trade ex-demerger on Monday, January 6. The company's stock will undergo a special pre-opening session. ITC Hotels will eventually be added to headline indices Sensex and Nifty50 temporarily. That is part of a process wherein ITC Hotels will be added to every index where ITC is a constituent. The ITC Hotel stock will be dropped from the gauges three days after the listing. Here is a list of NSE indices where ITC is a constituent: Last year, ITC announced a plan to demerge its hotel business in order to unlock value for shareholders. Analysts expect the demerger to enable the newly-formed firm to focus on growth within the luxury hospitality sector. ALSO READ: ITC Hotels to join Nifty As of January 3, ITC shares have grown 4.0 per cent in the past year, underperforming the headline Nifty50 index's 11.6 per cent rise. Catch all the latest stock market updates here. For all other news, visit . Get Latest Business News , Stock Market Updates and Videos ; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Business Twitter and Facebook . Subscribe on YouTube . None
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