The share price of the de-merged entity ITC Hotels trades in the red for the second consecutive session. The stock fell 5% to an intra-day low of Rs 163.25 on Thursday a day after listing. ITC Hotels was listed on NSE and BSE on January 29.

Shares of ITC Hotels fell in debut trade on Wednesday, following its spin-off from consumer goods firm ITC , valuing the luxury hotels operator at 366.2 billion rupees ($4.23 billion).

ITC Hotels debuts on stock exchanges with plans to expand to over 200 hotels, focusing on sustainability and luxury experiences.

Operating across all hospitality segments, ITC Hotels has a portfolio of hotels through six brands – including ITC Hotels and Mementos in the luxury space, Welcomhotel in upper upscale, Storii in boutique premium experiential segment, Fortune in midscale and WelcomHeritage in heritage leisure.

ITC Hotels made a high of ₹189, before declining 5% to end at its lowest tradeable limit of the day at ₹178.6. The company had a market capitalisation of ₹37,169.71 crore at close on Wednesday. Its parent ITC closed 0.

ITC Hotels, the newly demerged hospitality arm of ITC Ltd, has listed on the stock exchanges and plans to expand its portfolio to over 200 hotels in 5 years. The company has a strong focus on sustainability and inclusivity.

By Hritam Mukherjee (Reuters) -Shares of ITC Hotels fell in debut trade on Wednesday, following its spin-off from consumer goods firm ITC, valuing the luxury hotels operator at 366.2 billion rupees ($4.

Notably, the listing price is slightly higher than Nuvama's estimate, which expected the shares to be listed at a range of ₹150-175 per share