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India’s ITC is spinning off its hotels business but keeping a 40% stake. It may be the best way to close a valuation gap with its Tata-backed rival Indian Hotels and fully cash in on a tourism boom, says ShritamaBose

 

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India's ITC extends slide on plan to keep hotel business stake post spinoffShares of Indian conglomerate ITC shares fell as much as 3.3% on Tuesday, extending a slide from the previous session, as investors baulked at the company's plans to retain a 40% stake in its hotels business after spinning it off.
Source: Reuters - 🏆 2. / 97 Read more »