Nippon India Mutual Fund lowered its stake in ITC Hotels from 2.28% to 2.16% by selling 24,45,368 shares.
A hospitality company that operates and manages hotels across over 90 destinations in India and internationally. ITC Hotels runs properties under multiple brands including ITC Hotels, WelcomHotel, Fortune, Welcome Heritage, Mementos, and Epiq Collection Storii, with most hotels operated under a franchise agreement with Marriott International's The Luxury Collection. The company serves leisure and business travelers through diverse hotel formats catering to varying price segments and customer preferences.
India's fifth-largest AMC with over Rs 6 lakh crore in AUM, backed by Japan's Nippon Life Insurance which holds majority stake. Formerly Reliance MF, rebranded in 2019 after Nippon's acquisition. Sailesh Raj Bhan has run the equity book for over two decades and is one of India's most experienced active managers. Known for sector rotational calls and a deep research bench.
