ITC hits 2-month low; stock down 12 per cent from record high
The board of ITC on Monday approved the Hotel demerger, with share entitlement ratio of 10:1 for the demerged entity.
Shares of ITC hit two-month low at Rs 441, down 2 per cent on the BSE in Thursday’s intra-day trade. At 11:19 AM; the stock of cigarette-to-consumer goods conglomerate was top loser among the S&P BSE Sensex and Nifty 50, which were down nearly 0.50 per cent each.
Currently, ITC was trading at its lowest level since June 13, 2023. With today’s correction, the stock was down 12 per cent from its record high of Rs 499.50 touched on July 24, 2023.
The board of ITC on Monday approved the Hotel demerger, with share entitlement ratio of 10:1 for the demerged entity.
Shares of ITC hit two-month low at Rs 441, down 2 per cent on the BSE in Thursday’s intra-day trade. At 11:19 AM; the stock of cigarette-to-consumer goods conglomerate was top loser among the S&P BSE Sensex and Nifty 50, which were down nearly 0.50 per cent each.
Currently, ITC was trading at its lowest level since June 13, 2023. With today’s correction, the stock was down 12 per cent from its record high of Rs 499.50 touched on July 24, 2023.