Nifty is currently at 23,700, while the Sensex has experienced a decline of 960 points, particularly affecting Adani group stocks. In a significant update, the demerger of ITC has resulted in a price discovery around Rs 455.60.

The adjustment for ITC Hotels is approximately Rs 27 based on previous closing figures during the Special Pre-Open Session. Shareholders of ITC will receive one share of ITC Hotels for every ten shares they hold. This demerger is expected to unlock substantial shareholder value, enabling the new entity to focus on growth in the luxury hospitality market.

• ITC Hotels is anticipated to be added to the index.
• Exclusion from indices will occur three business days after listing, assuming no circuit breakers.
• The listing is projected to take place on or before February 2025.
• Conservative peer valuation expectations in the luxury hotel sector indicate a price range of Rs 100-125 per share.

Analysts express optimism regarding the future performance of both ITC and the newly formed ITC Hotels. They advise investors to maintain their positions to take advantage of the expected value unlocking.

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