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  • ITC Hotels Removed From Sensex And BSE Indices

ITC Hotels Removed From Sensex And BSE Indices

ITC Hotels, which was recently spun off from its parent company ITC, was officially removed from the benchmark Sensex and other BSE indices on Tuesday. The company had been temporarily included in these indices to allow passive funds to rebalance their portfolios.

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ITC Hotels Removed From Sensex And BSE Indices

ITC Hotels was removed from the benchmark Sensex and other BSE indices on Tuesday


ITC Hotels, which was recently spun off from its parent company ITC, was officially removed from the benchmark Sensex and other BSE indices on Tuesday. The company had been temporarily included in these indices to allow passive funds to rebalance their portfolios.

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Since ITC Hotels began trading as a separate entity on January 29, the stock did not hit the lower circuit by the cut-off time, leading to its removal from the BSE indices before the market opened on Wednesday. The luxury hotel chain’s shares closed at Rs 165, marking a 4.2% decline with over Rs 700 crore worth of shares being traded. As a result of ITC Hotels’ exclusion from Sensex, index trackers had to offload shares worth more than Rs 400 crore. Additional selling is expected when the stock is removed from the NSE Nifty.

Dr Agarwal’s Health Care Struggles on Stock Market Debut

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Meanwhile, Dr Agarwal’s Health Care, a prominent eye-care company, experienced a disappointing stock market debut. The company’s shares ended slightly below the IPO issue price of Rs 402, closing at Rs 401.6. The stock hit a high of Rs 413 and a low of Rs 370 on its debut day.

The Rs 3,027-crore IPO, which was primarily supported by institutional investors, faced challenges in attracting interest from retail and high-net-worth individuals (HNIs), with both quotas remaining about 40% unsubscribed. The IPO included a fresh fundraise of Rs 300 crore, and at its last closing price, Dr Agarwal’s Health Care was valued at Rs 12,684 crore.

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