News for HLV LIMITED (HLVLTD.BO)

ITC Ltd acquires stakes in EIH Limited and HLV Limited, strengthening its presence in luxury hospitality market.

Shares of luxury hospitality company EIH Limited will be in focus on Thursday after ITC acquired a 2.44% stake in the company, representing over 1.5 crore equity shares. Additionally, ITC purchased a 0.53% stake in HLV Limited, equivalent to 34.60 lakh equity shares. EIH is part of The Oberoi Group, while HLV is associated with The Leela Mumbai. The acquisitions come as ITC announces a demerger of its hotels business.

Government appoints Rama Mohan Rao Amara as MD of SBI; ITC acquires stake in Oberoi, Hotel Leelaventure; Usha Chandurkar divests stake in Ipca Labs.

Stocks including IKS Health, State Bank of India, Wipro, ITC, ABB India, JSW Infra, IPCA Labs, DOMS Industries, Lupin, IRCON and more will be in the spotlight on Thursday, December 19.

ITC Ltd has fixed January 1, 2025, as the effective date for demerger of its hotel business after receiving an approval order from the National Company Law Tribunal (NCLT).

In the Nifty 50 index, 4 stocks ended in the green, while 46 stocks closed in the red in today's trade.

ITC Ltd has decided to consolidate and streamline its shareholdings in hospitality major EIH and HLV, which owns The Leela Mumbai.

Shares of FMCG major ITC surged 4% to a day's high of Rs 490 on the BSE on Friday, following the company's announcement of a nearly 16% increase in revenue to Rs 22,282 crore for the quarter ended September 2024. While net profit rose marginally to Rs 4,993 crore—up 2%—it fell short of Street estimates of Rs 5,079 crore. However, revenue exceeded expectations of Rs 18,068 crore.

ITC said that the performance was “resilient” amidst a challenging operating environment. Subdued demand conditions, unusually heavy rains in parts of the country, high food inflation, and a sharp escalation in certain input costs were witnessed during the quarter.

The NSE Nifty index closed 163.71 points up at 25127.95

The Nifty Bank index closed 0.03 per cent down at 51007.0.

The Nifty IT index closed 0.55 per cent up at 42622.75.

Maan Aluminium, Dhani Services, Keynote Financial, ADF Foods and Thangamayil Jewellery, hit their fresh 52-week highs during the day.

ITC, Nestle India, HUL, Britannia and ONGC were among the top losers on NSE in today's trade.

Dhani Services, Sambhaav Media, Keynote Financial, ADF Foods and Lloyds Metals, hit their fresh 52-week highs at 11:09AM.

The Nifty Realty index was trading 2.3 per cent up at 1053.6.

The Nifty Bank index was trading 0.94 per cent up at 51501.15.

The Nifty Pharma index closed 0.51 per cent down at 22977.8.

In the Nifty pack, 10 stocks closed in the green, while 40 stocks ended in the red.