New Delhi, Jan. 30 -- Shares of ITC Hotels made their much-anticipated debut on the stock exchanges on 29 January following its demerger from parent company ITC Ltd. The listing proved to be turbulent, as the stock opened at Rs.188 on the BSE and Rs.180 on the NSE-more than 30% lower than its discovered price of Rs.260-270. Shortly after listing, the stock slipped further, hitting a low of Rs.172 on the NSE and Rs.178.60 on the BSE - a 5.5% drop that caused it to touch the lower circuit.

The stock faced turbulence because of several factors, including selling pressure from existing shareholders who received shares through the demerger, which initially lead to an oversupply in the market.

Additionally, a valuation correction post-listing...