ITC Hotels stock in focus as BAT plans to exit stake by 2026

BAT plans to divest its 15.3% stake in ITC Hotels by 2026, stating it has no long-term interest in the sector. ITC Hotels, which recently announced a demerger, received a ‘Buy’ rating from Jefferies with a Rs 240 target. Shares closed at Rs 169.9, down 2.75%.