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The stake sale could lead to a re-rating of ITC's stock, per experts and the increase in free float will cause an upward adjustment in the weights on the index.
As per the data, two funds associated with Rajiv Jain's GQG Partners namely GQG Partners Emerging Markets Equity Fund and Goldman Sachs Trust II - Goldman Sachs GQG Partners International Opportunities Fund together held 2.79 per cent stake in cigarette maker ITC as of December quarter.