Page 2 - Itc Ltd News Today

BAT reducing its stake in ITC could remove uncertainties for the Indian giant - Issue Date: Apr 14, 2024

ITC Ltd., incorporated in the year 1910, is a Large Cap company (having a market cap of Rs 536575.93 Crore) operating in Tobacco sector.

The big sale by BAT turned out to be a blessing in disguise rather than a nightmare for shareholders of ITC, as the stock shot up nearly 9% intraday. The stock ended 4.5% higher on the BSE at Rs 422.40. This indicates the strong institutional interest in the stock given the upbeat growth outlook.

(Bloomberg) -- British American Tobacco Plc, the maker of Lucky Strike cigarettes, plans to sell as much as $2.1 billion of shares in Indian partner ITC Ltd. in a move that will help it return cash to shareholders and invest in its business. Most Read from BloombergOne of the Most Infamous Trades on Wall Street Is Roaring BackChina Has Never Canceled This Many Shipments of US WheatStock Traders Bracing for Worst Shrug Off Hot CPI: Markets WrapBoeing Whistleblower Who Raised Safety Concerns Found

ITC Ltd. has always remained committed to serving Indian consumers with world class products while simultaneously supporting the Indian farming community. In line with this commitment ITCs B Natural has announced a special initiative on International Womens Day to empower and uplift women fruit farmers.

Homegrown private equity fund Samara Capital is in advanced stages of talks to invest in a natural ingredients supplier that has operations in India and ......

Sanjiv Puri, Chairman and Managing Director of ITC Ltd, expressed that achieving a growth rate of 6-7% is not only feasible but should be considered a minimum target for India. He emphasized that the country has established a robust foundation through years of purposeful policy interventions, providing ample scope for further growth.

The stock slipped 4.15 per cent to hit a day low of Rs 414 against a previous close of Rs 431.90.

British American Tobacco on Thursday said it was taking a £27.3 billion writedown ($34.5 billion) on the value of its U.S. cigarette brands.

BAT chief executive Tadeu Marroco said in its preliminary earnings release for 2023 that the company continues “to pursue all opportunities to enhance balance sheet flexibility” and as part of this regularly reviews its stake in ITC.