ITC Hotels Debuts on BSE at INR 188 with INR 39,000 Crore Market Cap

ITC Hotels Debuts on BSE at INR 188 with INR 39,000 Crore Market Cap

By Manu Vardhan Kannan

Published on January 31, 2025

ITC Hotels made its debut on the stock market with shares opening at INR 188 on the BSE and INR 180 on the NSE, marking a significant milestone for ITC shareholders. The company's market capitalization stood at approximately INR 39,000 crore. However, soon after listing, the stock experienced a 5% dip, touching INR 178.60, attributed to profit booking.

The listing price came in lower than market expectations set earlier on January 6, when special price discovery sessions had valued the stock at around INR 260 on Nifty and INR 270 on the BSE. Under the demerger scheme, ITC retained a 40% stake in the newly independent hotel entity, while the remaining 60% was allocated to shareholders in a 10:1 ratio. Investors who received these shares are advised to consider a medium to long-term holding strategy, according to Akriti Mehrotra, Research Analyst at StoxBox.

ITC Hotels, a major player in India’s hospitality industry, operates 140 hotels across 90+ locations under six brands: ITC Hotels, Mementos, Welcomhotel, Storii, Fortune, and WelcomHeritage. Positioned across the luxury to midscale segments, the company is set to benefit from the rising demand in the tourism sector.

In Q2FY25, ITC Hotels recorded a 12% year-on-year revenue growth, while its EBITDA margin improved by 70 basis points. This growth has been driven by higher revenue per available room (RevPAR), operating leverage, and strategic cost management. Looking ahead, the company plans to add 28 hotels in the next 24 months, targeting over 200 properties in five years. This expansion follows an asset-light model, ensuring steady revenue growth and margin improvements.

The company's Average Room Rate (ARR) increased from INR 7,900 in FY19 to INR 12,000, reflecting a 51.9% surge, while RevPAR saw a 57.7% rise, moving from INR 5,200 in FY19 to INR 8,200 in FY24. Revenue distribution for FY24 showed that 52% came from room sales, 40% from food and beverage, and the remainder from other services.

SBI Securities suggests that any short-term pressure on ITC Hotels’ stock price could present an opportunity for retail and high-net-worth investors to accumulate shares for long-term gains. The brokerage firm believes ITC Hotels has the potential to outperform ITC Ltd over the medium to long term, despite short-term volatility caused by ETF exits. With a strong pipeline of hotel additions and favorable industry conditions, ITC Hotels is well-positioned for sustained growth in the Indian hospitality sector.


Palmonas Expands Mumbai Retail Presence with New Store in Bandra West

Palmonas Expands Mumbai Retail Presence with New Store in Bandra West

By Hariharan U

Published on November 11, 2026

Palmonas has expanded its retail presence in Mumbai with the opening of a new store on Turner Road in Bandra West, bringing its jewellery collections closer to shoppers ahead of the festive season.

The new outlet arrives during a busy period for festive shopping, offering customers a convenient destination to explore jewellery for celebrations, family gatherings, gifting and everyday styling.

The store features Palmonas’ range of Demi-fine® jewellery, 9KT Gold jewellery and Fine Silver designs. With collections spanning different styles and occasions, shoppers can explore everyday accessories alongside pieces suited to festive dressing and special moments.

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The opening reflects Palmonas’ continued focus on expanding its offline retail footprint across key urban markets. By establishing a presence in Bandra West, the brand aims to make its collections more accessible to customers who prefer exploring jewellery in a physical retail environment.

The festive season brings increased interest in occasion-ready accessories and gifting options. The new store adds another location for Mumbai shoppers to discover Palmonas’ offerings across its jewellery categories.

Store Details

  • Brand: Palmonas

  • Address: Shop No. 3, Ground Floor, 36, Turner Road, Bandra West, Mumbai, Maharashtra 400050


Pune Gas Opens 10th Experience Centre in Mangaluru, Expands Karnataka Presence

Pune Gas Opens 10th Experience Centre in Mangaluru, Expands Karnataka Presence

By Hariharan U

Published on November 11, 2026

Pune Gas has opened its 10th Experience Centre in Mangaluru, expanding its presence in Karnataka and bringing its commercial and industrial gas solutions closer to businesses across Dakshina Kannada and coastal Karnataka. The new facility is the company's second centre in the state, following its Bengaluru location.

The Pune Gas Mangaluru Experience Centre was inaugurated by D. Vedavyasa Kamath, Member of the Karnataka Legislative Assembly, Mangaluru City South, and S. Mukund Kamath, CMD, Ideal Ice Cream Pvt. Ltd.

The inauguration was attended by representatives from the oil and gas industry, including Sandeep Kumar Raina, LPG Territory Manager, BPCL, Mangaluru; Darshit Malviya, Manager – Sales, BPCL, Mangaluru; and Lakshmi M, CRM, HPCL. The centre will be locally managed by franchise partners Vindya Pai and Nithyanand Pai, with technical and leadership support from Pune Gas.

Mangaluru's Commercial and Industrial Energy Demand

Mangaluru and the wider Dakshina Kannada region have a diverse business base spanning hospitality, restaurants, seafood and marine products, cashew and food processing, chemicals, petrochemicals, fertilisers and manufacturing.

Industrial areas such as Baikampady, Yeyyadi, Ganjimutt and Karnad contribute to the region's commercial and manufacturing activity. Businesses across these sectors depend on reliable energy systems for commercial kitchens, process heating and other operational requirements.

The region's seafood and cashew industries also have export potential. The Ministry of Commerce and Industry has identified these products under Dakshina Kannada's District Export Hub designation, while Karnataka Tourism highlights the Mangaluru–Udupi region's coastal cuisine and seafood traditions.

For businesses operating in these sectors, efficient LPG systems can help improve fuel utilisation, reduce wastage and manage operating expenses.

Pune Gas Highlights Its Energy Efficiency Solutions

Speaking at the launch, Jesal Sampat, Executive Director and CEO, Pune Gas, said, “Improving energy efficiency is essential to helping businesses manage operating costs and enhance operational performance. Mangaluru and coastal Karnataka present an important opportunity for us to bring our engineering expertise closer to Dakshina Kannada's diverse and growing business community.”

He added that Pune Gas solutions were helping businesses save nearly ₹1,400 crore annually, according to the company's estimates, by addressing fuel inefficiencies. The new centre, he said, would make its technologies and technical expertise more accessible to businesses across the region.

Nithyanand Pai, Pune Gas Mangaluru Franchise Partner, highlighted the scale of commercial LPG consumption in Karnataka, estimating daily demand at approximately 850 metric tonnes, equivalent to around 44,000 commercial LPG cylinders. He said the franchise would focus on helping regional businesses optimise LPG consumption and reduce fuel wastage.

Inside the Mangaluru Experience Centre

The new centre offers businesses an opportunity to explore Pune Gas's commercial and industrial gas systems through product demonstrations and technical guidance. Its portfolio includes:

  • Dry-Type LPG Vaporizer: The company's patented, Made-in-India technology converts liquid LPG into gas for commercial and industrial applications. System sizing is tailored to individual operational requirements.

  • LPGenius Smart LPG Systems: An integrated LPG solution designed to improve fuel utilisation and maintain consistent operations. It addresses issues such as cylinder freezing and sweating and works with LOT (Liquid Off-Take) 47.5 kg cylinders. Pune Gas states that the system can deliver 20–30% savings on LPG costs, depending on operating conditions.

  • FuelFusion: A dual-fuel system that enables compatible diesel generator sets to operate using diesel and LPG. According to the company, it can reduce diesel consumption by up to 70%, depending on system compatibility and operating conditions, while supporting lower-emission operations.

  • LeakCheck and Handheld Sniffer: Gas leak detection solutions designed to help identify potential leaks and support timely corrective action.

  • GasTrain Pressure Regulation Systems: Precision-engineered systems that regulate gas pressure according to equipment and process requirements, supporting controlled gas delivery.

  • Gas Parts and Consumables: Components for commercial and industrial LPG and natural gas infrastructure, supported by technical guidance.

Pune Gas Experience Centre, Mangaluru

Address: Vindhya Appliances, Shop No. FF 10, Lotus Atharva, Ashok Nagar, near Urwa Marigudi, Mangaluru – 575006.

About Pune Gas

With a history spanning more than 40 years, Pune Gas designs, develops and implements gas-based energy systems for commercial and industrial applications. The company operates across India and 20 international markets, serving sectors including manufacturing, healthcare and hospitality.

Its portfolio includes LPG and natural gas systems aimed at improving energy efficiency, reducing operational costs and supporting the adoption of cleaner energy solutions.

For more information, visit Pune Gas.


Lacoste Celebrates Indian Festive Traditions with 'Step Into The Light' Campaign

Lacoste Celebrates Indian Festive Traditions with 'Step Into The Light' Campaign

By Manu Vardhan Kannan

Published on November 6, 2026

French fashion house Lacoste has introduced its festive campaign, 'Step Into The Light', celebrating Indian festive traditions through a collection of gifting options and contemporary occasion wear. Blending the brand's signature French elegance with modern style, the campaign focuses on meaningful gatherings, thoughtful gifting and moments of celebration.

Built around the idea that style is a form of self-expression, the campaign encourages people to celebrate their individuality and create lasting memories with loved ones. Its festive collection brings together versatility, sophistication and effortless style for different occasions.

As gifting takes centre stage during the festive season, Lacoste presents a curated selection of pieces, including its iconic polos, elevated essentials, accessories and occasion-ready styles. Each offering reflects the brand's focus on quality, craftsmanship and contemporary elegance, with options designed to make festive gifting more personal and memorable.

The collection also introduces contemporary interpretations of occasion wear, combining relaxed sophistication with modern versatility. Timeless silhouettes, premium fabrics and understated details create styles suited to both intimate gatherings and larger celebrations, while retaining the brand's distinctive identity.

Through 'Step Into The Light', Lacoste celebrates individuality, confidence and the joy of coming together. The campaign brings the brand's approach to festive fashion and gifting to a new generation, encouraging everyone to express their personal style during the season.

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