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Analyst firms raise ITC share's target price to Rs 525 following robust Q1 results and approval of hotel business demerger   After a robust performance in Q1 of FY24 and the approval of the demerger of the hotels business by ITC, analyst firms have provided an optimistic and positive outlook. The conglomerate's strong results and steadily improving growth prospects across all its business divisions augur well for sustained stock outperformance. Notably, analyst firm Nomura has revised the target price upward to Rs 525 from the previous Rs 485, reflecting confidence in ITC's trajectory. Accor...
Analyst firms raise ITC share's target price to Rs 525 following robust Q1 results and approval of hotel business demerger
Analyst firms raise ITC share's target price to Rs 525 following robust Q1 results and approval of hotel business demerger
Source: IANS
17/08/2023 4:35:27 PM
ITC Hotels millet recipes now at Marriott International hotels reaffirming commitment to 'UN International Year of Millets' Contributing towards growing their preference and popularity not only in India but also internationally, the ITC Hotel Group, known for its superior culinary excellence, and sustainability ethos has taken the initiative to launch an extensive range of Millet based breads across ITC Hotels and select Marriott International hotels in India and the APAC region that includes countries like Japan, South Korea, Australia, and Indonesia. The initiative aspires to make a meaningful contribution to...
ITC Hotels millet recipes now at Marriott International hotels reaffirming commitment to 'UN International Year of Millets'
ITC Hotels millet recipes now at Marriott International hotels reaffirming commitment to 'UN International Year of Millets'
Source: IANS
7/08/2023 4:49:34 PM
Axis Capital raises ITC target price to Rs 490, positive about ITC post demerger announcement Following the in-principal demerger announcement for ITC Hotels, leading analyst firm Axis Capital continues to maintain a positive outlook on ITC stocks. This optimism stems from several factors, including the unlocking of value, improved capital allocation, and the vast potential of the company's diverse business segments. Leading analyst firm Axis Capital remainspositive about ITC and has pegged the target price to Rs 490 from Rs 445 previously. Mentioning in its report that this ho...
Axis Capital raises ITC target price to Rs 490, positive about ITC post demerger announcement
Axis Capital raises ITC target price to Rs 490, positive about ITC post demerger announcement
Source: IANS
2/08/2023 5:27:11 PM
Is 40% stake in ITC Hotels Ltd a downer or a boost for ITC scrip? For a long time, the hiving off the ITC Ltd hotels division into a separate entity has been touted about. Analysts were also in favour of this as it would give ITC the capital that could be invested in business giving faster returns than the hotels which is capex intensive and payback happens later. However, when the hiving off was announced, the markets reacted negatively and the ITC’s scrip went down. From July 19, onwards, the ITC scrip was up from Rs 478.85 (closing price) ...
Is 40% stake in ITC Hotels Ltd a downer or a boost for ITC scrip?
Is 40% stake in ITC Hotels Ltd a downer or a boost for ITC scrip?
Source: IANS
30/07/2023 12:50:35 PM
ITC stock slumps after approval to demerge hotels business into new entity The ITC stock slumped more than 3 per cent after the news of hotels business demerger. The stock was down 3.37 per cent at Rs 473 on the BSE. The Board of Directors of ITC Limited at its meeting held on Monday evaluated and discussed various alternative structures for the hotels business towards crafting the next horizon of growth as also enhancing value creation for all stakeholders. The Board noted that the hotels business had matured over the years and is well poised to chart its ...
ITC stock slumps after approval to demerge hotels business into new entity
ITC stock slumps after approval to demerge hotels business into new entity
Source: IANS
24/07/2023 3:41:47 PM
ITC Board accords in-principle approval to demerge hotels business into a new entity The Board of Directors of ITC Limited on Monday evaluated and discussed various alternative structures for the Hotels Business towards crafting the next horizon of growth as also enhancing value creation for all stakeholders. In the meeting, the Board noted that the Company's Hotels Business has matured over the years and is well poised to chart its own growth path as a separate entity in the fast- growing hospitality industry with sharper focus on the business and an optimal capital s...
ITC Board accords in-principle approval to demerge hotels business into a new entity
ITC Board accords in-principle approval to demerge hotels business into a new entity
Source: IANS
24/07/2023 3:38:47 PM
ITC moves up on inaugurating consumer goods manufacturing, logistics facility in Odisha ITC is currently trading at Rs. 428.10, up by 3.35 points or 0.79% from its previous closing of Rs. 424.75 on the BSE. The scrip opened at Rs. 425.05 and has touched a high and low of Rs. 428.65 and Rs. 424.15 respectively. So far 112808 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 433.45 on 08-May-2023 and a 52 week low of Rs. 258.05 on 17-Jun-2022. Last one week high and low of the scrip stood at Rs. 432.50...
ITC moves up on inaugurating consumer goods manufacturing, logistics facility in Odisha
ITC moves up on inaugurating consumer goods manufacturing, logistics facility in Odisha
Source: Accord Fintech
23/05/2023 10:25:17 AM
Brand Storii by ITC Hotels continues to grow as it signs three more properties pan-India ITC Hotels continue to expand and strengthen its presence across India with the signing of three more properties under brand Storii in Goa, Himachal Pradesh and Uttar Pradesh. on Brand Storii's expansion in India, Anil Chadha, Divisional Chief Executive, ITC Hotels said: "We are happy to announce the addition of three new properties under Storii by ITC Hotels at some of the most sought-after destinations in the country. The new properties at Goa, Manali, and Prayagraj highlight ou...
Brand Storii by ITC Hotels continues to grow as it signs three more properties pan-India
Brand Storii by ITC Hotels continues to grow as it signs three more properties pan-India
Source: IANS
9/05/2023 9:22:10 AM
ITC Mughal is first hotel globally to awarded LEED Zero Water Certification ITC Mughal is the first hotel globally to be awarded the LEED Zero Water Certification by US Green Building Council. This is in line with ITC's commitment to scale newer heights in creating a climate positive and future tech enterprise. The certification verifies net-zero goals and the certification signals market leadership in the built environment. As part of its efforts to be self-sufficient, ITC Mughal has been following a sustainable process which ensures that water requirement...
ITC Mughal is first hotel globally to awarded LEED Zero Water Certification
ITC Mughal is first hotel globally to awarded LEED Zero Water Certification
Source: IANS
20/04/2023 3:31:53 PM
Brand Welcomhotel growth trajectory continues to rise with addition of 3 more properties ITC's Hotel Group continues to grow as the upscale Brand Welcomhotel adds three more properties to the portfolio. Recently signed, Welcomhotel Gwalior is spread over seven acres and located 6.5 km away from the city centre and just 12 km away from the popular tourist spot, Gwalior fort. Welcomhotel Gwalior will offer 136 spacious rooms, including 18 suites and 14 villas, more than 10,000 sq.ft of banquet and meeting space. Slated to open in 2025, the property has large lawns spread ...
Brand Welcomhotel growth trajectory continues to rise with addition of 3 more properties
Brand Welcomhotel growth trajectory continues to rise with addition of 3 more properties
Source: IANS
14/04/2023 3:44:33 PM
ITC Hotels launches its first Mementos property in India With a vision to offer bespoke experiences in unusual hotels and resorts that are distinctive in character, design, or history and make an effort to coexist with the environment and the community, ITC Hotels' Mementos brand introduces Mementos Udaipur. Anil Chadha, Divisional Chief Executive, ITC Hotels said, "The addition of brand Mementos to our luxury hotels segment further strengthens ITC Hotels' luxury portfolio. Udaipur is rich in culture and tradition and celebrates poe...
ITC Hotels launches its first Mementos property in India
ITC Hotels launches its first Mementos property in India
Source: IANS
29/03/2023 1:51:10 PM
ITC Hotels launch Mementos Udaipur, its first Mementos property in India ITC's Hotel Group has announced the opening of its first Mementos property by ITC Hotels, Ekaaya, Udaipur, under the new brand - Mementos. With the Mementos brand, ITC Hotels bring bespoke experiences at immersive locations through atypical hotels and resorts that are unique by character, design or heritage and strive to co-exist with the environment and the community. Nestled in close proximity to Nathdwara and Eklingji temple, 40 minutes from Udaipur airport and just 20 km from th...
ITC Hotels launch Mementos Udaipur, its first Mementos property in India
ITC Hotels launch Mementos Udaipur, its first Mementos property in India
Source: IANS
25/03/2023 9:30:35 AM
ITC rises as its Agri Business Division enters into partnership with Hyundai Motor India ITC is currently trading at Rs. 390.80, up by 2.60 points or 0.67% from its previous closing of Rs. 388.20 on the BSE. The scrip opened at Rs. 384.20 and has touched a high and low of Rs. 392.50 and Rs. 384.20 respectively. So far 368794 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 394.00 on 23-Feb-2023 and a 52 week low of Rs. 220.10 on 07-Mar-2022. Last one week high and low of the scrip stood at Rs. 392.45...
ITC rises as its Agri Business Division enters into partnership with Hyundai Motor India
ITC rises as its Agri Business Division enters into partnership with Hyundai Motor India
Source: Accord Fintech
8/03/2023 2:26:39 PM
ITC commences Rs 450 cr food manufacturing facility in Telangana The food processing sector in Telangana received a boost with the ITC commencing a state-of-the-art integrated food manufacturing and logistics facility at Medak on Monday. Spread over nearly 59 acres of land, this food processing facility with a built up area of 6.5 lakh sq ft entails an initial investment outlay of Rs 450 crore. The facility will be producing ITC's foods brands, including Aashirvaad atta, Sunfeast biscuits, Bingo chips and Yippee Noodles, among others, in phases. ...
ITC commences Rs 450 cr food manufacturing facility in Telangana
ITC commences Rs 450 cr food manufacturing facility in Telangana
Source: IANS
31/01/2023 9:19:24 AM
First 10 hotels in the world to attain `LEED Zero Carbon Certification` from ITC Hotels Group Paving the way for the global hospitality industry, in a one of its kind remarkable feat, 10 properties of the ITC Hotels Group have attained "Net Zero Carbon Status" by achieving coveted "LEED Zero Carbon Certification" by USGBC (United States Green Building Council). This achievement reaffirms ITC Hotels' commitment to responsible luxury and sustainability. Already, ITC Hotels is the world's largest chain with the maximum number of LEED Platinum certified prop...
First 10 hotels in the world to attain `LEED Zero Carbon Certification` from ITC Hotels Group
First 10 hotels in the world to attain `LEED Zero Carbon Certification` from ITC Hotels Group
Source: IANS
27/12/2022 3:59:18 PM
ITC trades in green as its hospitality arm inks pact with Jolle Hospitality ITC is currently trading at Rs. 340.75, up by 1.00 points or 0.29% from its previous closing of Rs. 339.75 on the BSE. The scrip opened at Rs. 339.25 and has touched a high and low of Rs. 340.85 and Rs. 339.25 respectively. So far 58050 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 361.90 on 11-Nov-2022 and a 52 week low of Rs. 207.00 on 24-Feb-2022. Last one week high and low of the scrip stood at Rs. 344.75 ...
ITC trades in green as its hospitality arm inks pact with Jolle Hospitality
ITC trades in green as its hospitality arm inks pact with Jolle Hospitality
Source: Accord Fintech
24/11/2022 11:09:01 AM
ITC Hotels signs Welcomhotel Belagavi  ITC Hotels recently signed Welcomhotel by ITC Hotels, Belagavi under a management contract with Jolle Hospitality Group. Welcomhotel Belagavi will offer 116 spacious rooms, along with about 1,200 square metres of banquet space, multiple dining experiences and a fitness centre. Located in the industrial area of Kakti, off NH-4 on the Pune-Bengaluru highway, the property is just 10 km away from the popular tourist spot Belagavi Fort and easily accessible from India's first priva...
ITC Hotels signs Welcomhotel Belagavi
ITC Hotels signs Welcomhotel Belagavi
Source: IANS
23/11/2022 2:11:32 PM
ITC Sankhya, Bengaluru becomes world`s first LEED Zero Carbon certified data centre  ITC Limited's Sankhya in Bengaluru has become the world's first data centre to be certified as LEED Zero Carbon. The facility has been awarded the certification by the US Green Building Council (USGBC), which recognises net zero carbon emission from a building over a period of 12 months. The certification is valid for three years, with the requirement of net zero report to be submitted every year. ITC Sankhya has earned this global distinction six years after being certifi...
ITC Sankhya, Bengaluru becomes world`s first LEED Zero Carbon certified data centre
ITC Sankhya, Bengaluru becomes world`s first LEED Zero Carbon certified data centre
Source: IANS
18/11/2022 4:19:23 PM
ITC Hotels launch Welcomhotel Jim Corbett With dreamy landscapes and the charm of the wilderness, Jim Corbett makes for a perfect bleisure destination. Far away from the hustle bustle of city life, located on a hill-top, spread over 3.5 acres of woodland forests, Welcomhotel by ITC Hotels, Jim Corbett is about 45 minutes away from India's premier National Park, home to over 600 different varieties of flora and fauna. The room views are breathtaking. Sixty-two well-appointed guest rooms and suites with balconies and private sit...
ITC Hotels launch Welcomhotel Jim Corbett
ITC Hotels launch Welcomhotel Jim Corbett
Source: IANS
17/11/2022 3:40:14 PM
ITC's strong performance continues across segments  ITC's gross revenue stood at Rs 16,971 crore, representing a growth of 27.1 per cent YoY while EBITDA at Rs 5,864 crore also grew by 27.1 per cent YoY for the second quarter ending September 30. PAT grew by 20.8 per cent YoY to Rs 4,466 crore. Earnings Per Share for the quarter was Rs 3.6 (previous year Rs 3). Economic activity continued to gather momentum during the quarter along with improvement in business and consumer sentiments. However, input prices remained elevated eve...
ITC's strong performance continues across segments
ITC's strong performance continues across segments
Source: IANS
20/10/2022 2:08:50 PM
Business better than 2019, Happy Days Are Here Again: Hoteliers With the famous jingle 'Happy Days Are Here Again' in their mind, about 40 General Managers of star hotels will ride out on their motorbikes from the city to Mamallapuram on Sunday morning. With room rates heating up, guest arrivals increasing, footfalls into their restaurants going up as well the online orders, hoteliers are happier a lot now. The business now is better than what it was in 2019-before the Covid-19 pandemic. It is not the pent-up demand but an organic demand, ...
Business better than 2019, Happy Days Are Here Again: Hoteliers
Business better than 2019, Happy Days Are Here Again: Hoteliers
Source: IANS
8/10/2022 4:04:27 PM
ITC Hotels add 5 more properties as brand Storii expands ITC Hotel's growth story continues to rise with the group signing five boutique properties under the new brand, Storii by ITC Hotels. Popular leisure destinations Goa, Dharamshala, Solan, Sirmour and Kufri are the frontliner destinations for Storii with Storii Goa and Storii Dharmashala already opening doors to guests. With the recent openings at Goa and Dharamshala, the ITC HOTELS Group now has its 5th property in Goa and its 12th hotel in Himachal Pradesh. With the Storii brand, I...
ITC Hotels add 5 more properties as brand Storii expands
ITC Hotels add 5 more properties as brand Storii expands
Source: IANS
21/09/2022 2:26:53 PM
ITC launches integrated initiatives to support Har Ghar Tiranga campaign ITC Limited, the multi-business conglomerate with significant presence across all three sectors of the Indian economy -- agriculture, manufacturing and services, has launched a series of integrated multidimensional initiatives to celebrate 'Azadi Ka Amrit Mahotsav' to mark 75 years of the countrys independence. ITC has also contributed to the Har Ghar Tiranga' campaign through a corporate film, which salutes and celebrates the glorious contributions of India's freedom fight...
ITC launches integrated initiatives to support Har Ghar Tiranga campaign
ITC launches integrated initiatives to support Har Ghar Tiranga campaign
Source: IANS
13/08/2022 12:47:58 PM
ITC Hotels unveils its 12th property in Gujarat with the iconic ITC Narmada Bringing the ultimate luxury hospitality experience to Ahmedabad, ITC Hotels announced the inauguration of its premium luxury hotel - the ITC Narmada, in India's first UNESCO World Heritage City of Ahmedabad. Chief Minister of Gujarat, Bhupendra Patel inaugurated the iconic property situated at the heart of the city. ITC Narmada is Gujarat's first LEED Platinum certified hotel and is ITC Hotel's 15th Luxury Collection Hotel in India. ITC Narmada is ITC Hotels 12th property in t...
ITC Hotels unveils its 12th property in Gujarat with the iconic ITC Narmada
ITC Hotels unveils its 12th property in Gujarat with the iconic ITC Narmada
Source: IANS
10/08/2022 3:31:03 PM
ITC's three LEED zero carbon-certified hotels create global milestone Reaffirming its credo of 'Responsible Luxury' with a comprehensive focus on sustainability, health and hygiene, ITC Hotels is proud to announce that 3 of its properties in India have been ranked as the world's top 3 LEED (Leadership in Energy & Environmental Design) Zero Carbon certified hotels, a first-of-its-kind achievement globally. ITC Windsor, Bengaluru, became the 1st hotel in the world while ITC Grand Chola is one of the largest hotels in the world to have received ...
ITC's three LEED zero carbon-certified hotels create global milestone
ITC's three LEED zero carbon-certified hotels create global milestone
Source: IANS
4/06/2022 9:47:07 AM
ITC goes beyond Plastic Neutrality in 2021-22, achieves yet another Sustainability Milestone  In line with the commitment made last year, diversified Indian conglomerate ITC has gone beyond plastic neutrality in 2021-22 through the orchestration of an integrated solid waste management programme that incorporates unique and multidimensional initiatives. The Company collected and sustainably managed more than 54,000 tonnes of plastic waste across 35 states and union territories. The amount of plastic waste managed exceeded the amount of plastic packaging utilised by ITC during ...
ITC goes beyond Plastic Neutrality in 2021-22, achieves yet another Sustainability Milestone
ITC goes beyond Plastic Neutrality in 2021-22, achieves yet another Sustainability Milestone
Source: IANS
6/04/2022 12:39:17 PM
ITC Hotels app offers guests one-stop destination to access multiple services Keeping pace with dynamically changing consumer preferences, ITC's Hotel Group has launched a one-of-a-kind app using which guests will be able to access multiple services such as room and restaurant reservations, food delivery and takeaway, loyalty membership essentials, and more. The app will be available to users of ITC Hotels, Welcomhotels and select Fortune Hotels. It enables guests to book their stay at more than 55 hotels and resorts through a simple process that gives them a...
ITC Hotels app offers guests one-stop destination to access multiple services
ITC Hotels app offers guests one-stop destination to access multiple services
Source: IANS
9/02/2022 2:19:50 PM
ITC Hotels expands footprint in Himachal with Mementos Shimla  ITC Hotels has signed its third Mementos hotel in two weeks, this time in Shimla, expanding its footprint in Himachal Pradesh. Mementos is the luxury brand that the hospitality company launched with the inking of the deal for Ekaaya Udaipur, which was followed by Mementos Jaipur. Mementos Shimla sprawls over an area of 10 acres with a total of 297 keys, including 40 villas of four bedrooms each. The 200 sq. m. villas offer a marvellous view of the valley and are ideally suited for...
ITC Hotels expands footprint in Himachal with Mementos Shimla
ITC Hotels expands footprint in Himachal with Mementos Shimla
Source: IANS
22/11/2021 5:37:24 PM
ITC signs Jaipur hotel for its luxury brand Mementos Days after unveiling its new luxury brand Mementos with Ekaaya Udaipur, ITC Hotels on Tuesday sealed another agreement to open a hotel under the new umbrella in Jaipur. The agreement was signed by ITC Hotels Chief Executive Anil Chadha and Mementos Jaipur owner Ritesh Derewala in the presence of Nakul Anand, Executive Director, ITC Ltd. The Mementos hotels in Jaipur and Udaipur, according to an ITC Hotels media release, are poised to be top favourites in the destination wedding segment....
ITC signs Jaipur hotel for its luxury brand Mementos
ITC signs Jaipur hotel for its luxury brand Mementos
Source: IANS
17/11/2021 10:08:50 AM
ITC Hotels flags off luxury brand Mementos with Ekaaya in Udaipur ITC Hotels has announced the launch of its new luxury brand, Mementos, with Ekaaya, a 130-room hotel located on a 106-acre plot overlooking the Aravallis in Udaipur. The hotel is slated to be opened in the coming financial year, according to a company spokesperson. In view of Udaipur's growing popularity as a wedding destination, Ekaaya is being billed as an ideal setting for one. It offers 25,000 sq.ft. of covered meeting spaces with a sprawling ballroom, vast pre-function areas, mult...
ITC Hotels flags off luxury brand Mementos with Ekaaya in Udaipur
ITC Hotels flags off luxury brand Mementos with Ekaaya in Udaipur
Source: IANS
9/11/2021 4:33:22 PM
ITC Hotels launch Welcomhotel Tavleen Chail Welcomhotel, one of Indias fastest growing hospitality brands from the ITC Hotels group has launched its second property in Himachal Pradesh -- Welcomhotel Tavleen Chail -- with 65 well-appointed guest rooms, including 18 fairytale cottages and a luxury suite. Nestled amidst lush green forests, each of the property's lodgings come with a private sit-out with breathtaking, panoramic views of the pristine mountains. This launch follows the inauguration of Welcomhotel Shimla about six mon...
ITC Hotels launch Welcomhotel Tavleen Chail
ITC Hotels launch Welcomhotel Tavleen Chail
Source: IANS
10/06/2021 3:48:59 PM
ITC first hotel chain to receive platinum certification ITC Hotels has achieved the distinctive milestone of being the First Hotel chain in the world to receive the Platinum level certification under DNV's My Care Infection risk management programme. Certification programme "My Care" by DNV, is developed at a global stage by a team of expert infection risk and hospital management professionals. The maturity model of the programme (Level 1 to 5) assesses and covers all facets of hotel operations on six different dimensions Governan...
ITC first hotel chain to receive platinum certification
ITC first hotel chain to receive platinum certification
Source: IANS
24/05/2021 3:08:18 PM