SHARES OF ITC ended nearly 3% lower on Monday, as the stock traded ex-demerger, after a special trading session to discover the price for ITC Hotels. The stock closed down 2.75% at ₹442.50 on the BSE. Earlier, it had settled at ₹455 after the special session. The scrip closed at ₹442.65, a decline of 2.84%, on the NSE. It had settled at ₹455.60 on the bourse at the end of the special session.
The demerger of ITC's hotels business came into effect on January 1. A special trading session was conducted on Monday to determine the fair price of the newly-independent business. The closing price of ITC shares was discovered at ₹455 at the special session, reflecting a decline of 5.6%, or ₹27, from the previous close.
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