Shares of ITC rose 2.2% to Rs 514.8 after the NCLT approved the demerger of its hotel business. The Kolkata bench of the NCLT approved the demerger, effective after fulfilling necessary conditions. ITC shareholders will own 60% of the new entity, with ITC retaining 40% ownership. ITC’s market cap is now Rs 6,43,390 crore.
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