Shares of ITC, India's conglomerate, have surged over 2% in intraday trade on Tuesday to Rs 449.85 per share, hitting multiple record highs in recent months. The company has proposed demerging its hotel business, which recorded a bumper revenue growth of 99% to Rs 809 crore and posted a profit of Rs 205 crore before tax, for the first time, as business recovery increased. ITC shares also trade ex-dividend on Tuesday, with the board recommending a final dividend of Rs 6.75 and a special dividend of Rs 2.75 per equity share, which will be paid between August 14th and 17th to eligible shareholders.