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The products and services will be available under the 'Birla Opus' brand

ITC stock slipped over 4 per cent on Thursday (February 8) after British American Tobacco (BAT) said it could sell some of its stake in the company, recovering partially in trade. The stock of the cigarette-to-hotels conglomerate traded at Rs 420 levels, rising 1.3 per cent in intraday deals as compared to the S&P BSE Sensex that traded flat for most part of the day. The development, meanwhile, saw Jefferies downgrade the stock to 'hold' from 'buy' earlier with a target price of Rs 430, down a huge 17.3 per cent from its earlier price target of Rs 520.

The brokerage, which has a buy call on Zomato stock, said that this looks like an unrelated acquisition on the face of it

"Honasa, better known through its flagship brand 'Mamaearth', enjoys a significant moat as a scaled-up internet-first franchise," said the brokerage's analysts Vivek Maheshwari, Kunal Shah and Jithin John in a note to clients. "The company has been able to transform itself into a house of brands with 33% of revenue now from newer brands."

Cricket attracts over 85% of all sports-related sponsorship and media spending in India. The brokerage said the last edition in 2019 saw 750 million unique viewers and 14 billion hours of total viewing time.