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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.