ITC Hotels expands NCR presence with 104-key 'Welcomhotel' in Manesar
ITC set out an expansion.
· BS Companies
ITC Hotels Ltd on Friday announced the signing of a 104-key Welcomhotel in Manesar, Gurugram, strengthening the brand's presence in the National Capital Region (NCR). Anil Chadha, Managing Director, ITC Hotels, said, "As hospitality demand continues to evolve beyond traditional gateway cities, we remain focused on identifying destinations that offer strong long-term growth potential.
The analysis
Against that, the stock is -0.1% on the day at ₹263.50, and has returned -5.7% over three months. It sits 38% below its 52-week high, which means a good deal of bad news was already in the price. The fmcg sector has moved -3.1% over the same period, so ITC is running 2.6 points behind its peers.
For ITC, the question is how much of this is already reflected in the price and how much re-rates the fmcg peer set alongside it.
Market context
- The company directly in focus is ITC.
- Sector exposure: FMCG, Hotels & Restaurants, Capital Goods & Engineering.
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