Shares of the ITC Hotel shares declined by 5 % after its expected listing on the stock exchanges.
Shares of ITC hotels opened at Rs 188 and Rs 180 on NSE but fell quickly in postlisting.
On January 1, the ITC hotel business ended, which could trade ITC hotels as a standstone entity.
Analysts predicted the ITC hotel price to be debuted between Rs 140 and 175, but it opened more before facing a dip.
Market experts are hopeful about the future of ITC hotels, which highlights its asset light expansion strategy and a strong position in the hospitality industry.
The company aims to include 28 hotels in the next two years, targeting 200+ properties in five years.
Brokers like the ICICI Direct have set a target of Rs 195, which indicates a potential growth of 15-30 % of its expected list.
Meanwhile, ITC’s parents’ company saw a slight dip after entering the hotel unit market.
In spite of Initial Drop, investors are advised to monitor the value trends of the ITC hotel shares as the company takes advantage of the increasing demand in luxury and mid -scale hospitality classes.
