ITC shares drop over 4% as BAT says working towards monetising some of its stake
1 year, 1 month ago

ITC shares drop over 4% as BAT says working towards monetising some of its stake

Live Mint  

ITC 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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