Shares of ITC Hotels (ITC Hotels) will be removed from benchmark Sensex and other BSE indices on 5 February. The company, which separated from the ITC, was temporarily made part of the Sensex and some other indices so that the passive funds could re -balance their portfolio. The BSE said in a notice that a separate trading of ITC Hotels shares started on 29 January.
Since ITC Hotels shares did not touch the lower circuit until cutoff time. Therefore, the company was removed from all the BSE indices before the business started on 5 February. The last closed price of the shares of the operator of the luxury hotel was Rs 165, that is, it fell by 4.2 % and a total of Rs 700 crore shares were traded.
Those tracking the index had to sell shares worth about Rs 400 crore due to the withdrawal of it from the exchange. ITC Hotels may be sold for Rs 700 crore after being removed from the Nifty Index.
ITC Hotels quarterly results
In October-December 2024, the Net Profit of Hotels Company stood at Rs 74.35 lakh, compared to Rs 41.68 lakh in the same period last year. The total income of the company in the respective period was Rs 163.92 lakh, while the figure was Rs 160.27 lakh a year ago. However, during this period, the total expenditure of ITC Hotels declined from Rs 215.96 lakh to Rs 64.56 lakh in the same quarter last year.