My two bits… ITC is a perennial hold and business that has so many moving pieces that a few of them out shine and a few lag… Agri biz that was a laggard last few quarters (when the export of wheat was banned) has come up and the paper board business is currently facing headwinds… The hotels business is a deep cycle business, with huge capital demand and bad return on capital… hence the companies moving towards the asset light model, where they just deploy their ops expertise and mktg muscle, with a 3rd party putting in the capital. I would be looking to sell the hotel stock at the 1st good opportunity, mat want to see a quarter or 2…BAT will certainly exit, will try do it in an efficient way, but their stake will not amount to much, as the Parent will continue to own 40%. so it remains to be seen, as to who will buy… maybe retail public…
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