#itcshareprice

[fintrades]

4% fall in ITC Share Price after hotel demerger and ITC Share Price Target 2023

It was already an expected announcement which was expected by the stock market but even after it's been announced that ITC, a company with various businesses like hotels, cigarettes, FMCG, and many more but now when recently ITC announced will create a separate entity for the hotels even though it was expected by stock market still share price fell of ITC fell by 3.87% after the news came out about demerger.

ITC will still have 40% ownership of the new hotel entity so only the remaining 60% will be given to the current shareholders the main reason for the drop is that investors expected only a partial unlocking of value because of this current scenario investors thought the value unlocked as they had hoped.

[growthpossible]

ITC Q1 preview: Low base, cigarette business to spur revenue, profit growth

ITC Q1 preview: Unlike its lacklustre stock performance at the bourses since the past one year, ITC is likely to post a strong show in the June 2021 quarter (Q1FY22) when it posts its results on Saturday, July 24, helped by a low base and recovery in cigarettes sales, say analysts. They eye a solid double-digit profit and revenue growth on a yearly basis, although the quarter-on-quarter (QoQ) performance could disappoint. During the quarter ended June, shareholders lost over 7 per cent of their wealth parked in ITC whereas Nifty50 offered 7 per cent returns during the same period. The company has been in the news recently on account of government's plans to offload its stake held via Specified Undertaking of the Unit Trust of India (SUUTI), higher dividend to the parent company (BAT) and the company suing a blogger for defamation. What now remains to be seen is if the stock can snap out of the range following Q1 results that it has been stuck in for a few months. That said, on the earnings front, analysts expect profit after tax (PAT) to grow between 21-53 per cent year-on-year (YoY) while revenue is seen in the range of Rs 22-35 per cent. In quarterly terms, the figures could slide in double-digits. Here's a look at what top brokerages are saying: ICICI Direct We expect ITC to witness a 29.3 per cent YoY revenue growth led by 33.7 per cent growth in the cigarettes segment, mainly on account of severe adverse sales in base quarter, ICICI Direct opined. Read the full article