Cigarettes-to-consumer goods conglomerate ITC Ltd.’s shares fell as much as 5% from Friday’s close in a special price discovery session in Mumbai to adjust for the spinoff of its hotels division.

ITC shares have remained under pressure post demerger of ITC Hotels, hitting a low of Rs 437.10 today. Should investors BUY, SELL or HOLD ITC shares? Goldman Sachs weighs in.

ITC shares traded ex-demerger after splitting its hotel business into ITC Hotels, unlocking shareholder value. Analysts expect ITC Hotels’ listing by February 2025, citing benefits like operational focus,