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ITC share extend fall on plan to keep hotel business stake post spinoff

ITC said on Monday it would spin off the hotel business, separating it from its cigarettes and food units, but retain a 40% stake in the entity, with ITC shareholders holding the rest.

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ITC board in-principle approves demerger of hotel business; stock falls 4%

After the announcement, ITC's shares tanked around 3.50 per cent, as around 3 pm, the company's stock was trading at Rs 473.15.

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