ITC has set June 6 as the date to meet ordinary shareholders to approve the demerger scheme. In August last year, the ITC board approved the demerger of its hotel business with an indicative timeline of 15 months for the listing of ITC Hotels. ITC Hotels will operate as an independent hospitality-focused listed entity.
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Favourable demand-supply dynamics and rising hotel room rates are set to lend a fresh impetus to the Indian hospitality sector, according to estimates by Kotak Institutional Equities. This brokerage recommended a buy rating on SAMHI while reiterating an 'Add' on Chalet Hotels and The Indian Hotels Company (IHCL). On Lemon Tree Hotels, Kotak has maintained a ‘reduced’ stance.
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Multibagger Railway stocks Rail Vikas Nigam Ltd (RVNL), Indian Railway Finance Corporation (IRFC) ,IRCON International , RITES Ltd , RailTel Corporation of India share prices may see up to 30% more upside suggest technical thematic report by Prabhudas Lilladher Pvt Ltd. Prabhudas Lilladher has given a target price of ₹315-340 with a stop loss at ₹255 for Rail Vikas Nigam Ltd (RVNL) share price.
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