
ITC shares drop over 4% as BAT says working towards monetising some of its stake
Live MintITC share price traded over 4% lower on Thursday as its largest shareholder BAT is working towards offloading some of its stake in the cigarette-to-hotels conglomerate. Our shareholding in ITC has existed in one way or another since the early 1900s and is subject to numerous share capital changes and regulatory restrictions,” BAT said. BAT also highlighted that the Group’s share of post-tax results of associates and joint ventures increased from £442 million to £585 million which largely relates to the performance of the Group's main associate, ITC in India. “The movements are largely due to the economic recovery in India in 2023 from COVID-19 which led to difficult trading conditions in 2022, more than offsetting a translational foreign exchange headwind,” BAT said.
History of this topic

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ITC Hotels share price falls 3% as BAT looks to divest stake
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Itc Share Price Today on 05-11-2024: Itc share price are down by -0.96%, Nifty up by 0.91%
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ITC profit increases 1.8 per cent to Rs 5K crore; revenue rises 15.6 per cent
New Indian Express
Itc Shares Price Today: Up 0.05%, Nifty Up 0.21%
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ITC’s shares jumps as BAT’s $2 billion share sale sails through
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BAT likely to sell 3.5% stake in ITC for Rs 17K crore on Wednesday
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BAT to offload 3.5% stake in ITC via block trade; details here
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ITC shares fall over 2% as BAT looks to sell stake as soon as this week
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BAT's stake sale in ITC is almost here
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ITC Q1 Results Highlights: Net profit rises 17.5% to ₹4,902 cr; board approves 25% stake in Maharaja Resort
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ITC board gives in-principle nod for demerger of hotels business
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ITC Share Gains 5% Post Q4 Results, Stocks Hit 3-Year High; Should You Buy?
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