ITC’s shares jumps as BAT’s $2 billion share sale sails through
9 months, 1 week ago

ITC’s shares jumps as BAT’s $2 billion share sale sails through

The Hindu  

Indian FMCG and tobacco giant ITC's shares jumped more than 8% on March 13, after top shareholder British American Tobacco's $2 billion stake sale in the company went through smoothly, removing a key overhang on the stock. In India’s third-largest block deal, BAT completed the sale of 436.9 million shares, or roughly 3.5% of ITC’s outstanding shares, for about $2 billion on March 13, sending ITC’s shares up as much as 8.3%. The fall after the stake sale announcement implies an attractive valuation for ITC's cigarette business, and creates a buying opportunity, even as cigarette taxation overhang persists, HSBC said in a note, upgrading the stock to "buy" from "hold". "We believe BAT's stake sale will clear the uncertainty around stock performance and expect ITC's stock outperformance to resume after the stake sale," Morgan Stanley analysts said.

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History of this topic

ITI share price surges 10% to an all-time high, jumps over 40% in 3 days; should you buy? Experts weigh in
2 weeks, 1 day ago

ITI share price surges 10% to an all-time high, jumps over 40% in 3 days; should you buy? Experts weigh in

Live Mint  

ITI share price continued witnessing strong buying interest for the third consecutive session on Tuesday, December 10, as it jumped almost 10 per cent to hit its fresh all-time high of ₹404 on the NSE. ITI share price opened at ₹385 against its previous close of ₹368.10 and surged as much as 9.8 per cent to its record high of …

Bata India Share Price Today on 27-11-2024: Bata India share price are down by -0.18%, Nifty down by -0.09%
4 weeks ago

Bata India Share Price Today on 27-11-2024: Bata India share price are down by -0.18%, Nifty down by -0.09%

Live Mint  

Bata India Share Price Today on 27-11-2024: At 27 Nov 11:09 today, Bata India shares are trading at price ₹1363.35, -0.18% down from the previous closing price. On the technical front, the stock is trading above the 5,10,20 days SMA & lower than the 50,100,300 day SMA. The stock will have support at 5,10,20 days SMA & face resistance at …

Bata India Share Price Today on 25-11-2024: Bata India share price are up by 1.91%, Nifty up by 1.82%
1 month ago

Bata India Share Price Today on 25-11-2024: Bata India share price are up by 1.91%, Nifty up by 1.82%

Live Mint  

Bata India Share Price Today on 25-11-2024: At 25 Nov 11:22 today, Bata India shares are trading at price ₹1328.55, 1.91% up from the previous closing price. On the technical front, the stock is trading above the 5,10 days SMA & lower than the 20,50,100,300 day SMA. The stock will have support at 5,10 days SMA & face resistance at …

Bata India Share Price Today on 22-11-2024: Bata India share price are up by 0.62%, Nifty up by 0.92%
1 month ago

Bata India Share Price Today on 22-11-2024: Bata India share price are up by 0.62%, Nifty up by 0.92%

Live Mint  

Bata India Share Price Today on 22-11-2024: At 22 Nov 12:04 today, Bata India shares are trading at price ₹1289.8, 0.62% up from the previous closing price. On the technical front, the stock is trading below the short term simple moving averages of 5, 10, 20 day as well as longer term moving averages of 50, 100 & 300 days. …

Bata India Share Price Today on 12-11-2024: Bata India share price are up by 0.21%, Nifty down by -1.07%
1 month, 1 week ago

Bata India Share Price Today on 12-11-2024: Bata India share price are up by 0.21%, Nifty down by -1.07%

Live Mint  

Bata India Share Price Today on 12-11-2024: At 12 Nov 16:01 today, Bata India shares are trading at price ₹1334.05, 0.21% up from the previous closing price. On the technical front, the stock is trading below the short term simple moving averages of 5, 10, 20 day as well as longer term moving averages of 50, 100 & 300 days. …

Bata India Share Price Today on 11-11-2024: Bata India share price are down by -0.39%, Nifty down by -0.03%
1 month, 2 weeks ago

Bata India Share Price Today on 11-11-2024: Bata India share price are down by -0.39%, Nifty down by -0.03%

Live Mint  

Bata India Share Price Today on 11-11-2024: At 11 Nov 16:00 today, Bata India shares are trading at price ₹1329.65, -0.39% down from the previous closing price. On the technical front, the stock is trading below the short term simple moving averages of 5, 10, 20 day as well as longer term moving averages of 50, 100 & 300 days. …

Itc Share Price Today on 05-11-2024: Itc share price are down by -0.96%, Nifty up by 0.91%
1 month, 2 weeks ago

Itc Share Price Today on 05-11-2024: Itc share price are down by -0.96%, Nifty up by 0.91%

Live Mint  

Itc Share Price Today on 05-11-2024: At 05 Nov 16:00 today, Itc shares are trading at price ₹480.05, -0.96% down from the previous closing price. On the technical front, the stock is trading above the 300 days SMA & lower than the 5,10,20,50,100 day SMA. The stock will have support at 300 days SMA & face resistance at 5,10,20,50,100 days …

Itc Shares Price Today: Up 0.05%, Nifty Up 0.21%
2 months ago

Itc Shares Price Today: Up 0.05%, Nifty Up 0.21%

Live Mint  

Itc shares are trading slightly up today, with the stock price closing at ₹481.95. The company has seen a significant increase in volume traded on both NSE and BSE, suggesting a positive price movement. The stock has hit a high of ₹483.15 and a low of ₹479.85 during the day, indicating a trading range of 2.25%. The company has a …

Why ITC share price rose over 8% today, biggest single-day gain since Sept 2021
9 months, 1 week ago

Why ITC share price rose over 8% today, biggest single-day gain since Sept 2021

Hindustan Times  

ITC share price today: ITC share price rose over 8% today after it was reported that a block deal in which British American Tobacco Plc was likely to be the seller of ITC shares. ITC share price today: Around 43.7 crore ITC shares, amounting to 3.5% of the total equity of the company, changed hands in a block deal. British …

BAT likely to sell 3.5% stake in ITC for Rs 17K crore on Wednesday
9 months, 1 week ago

BAT likely to sell 3.5% stake in ITC for Rs 17K crore on Wednesday

Business Standard  

British American Tobacco, the multinational company that makes and sells cigarettes, tobacco and other nicotine products, on Tuesday said it planned to sell up to 3.5 per cent in ITC by way of block deals on Wednesday. BAT has offered a 5 per cent discount to investors with the block deal price band ranging from Rs 384 to Rs 400.25 …

BAT to offload 3.5% stake in ITC via block trade; details here
9 months, 1 week ago

BAT to offload 3.5% stake in ITC via block trade; details here

Live Mint  

BAT PLC announced on Tuesday its plans to divest up to a 3.5 percent stake in India's ITC Ltd to institutional investors through a block trade. Through its wholly-owned subsidiary, Tobacco Manufacturers Ltd, BAT aims to sell up to 43,68,51,457 ordinary shares in ITC Ltd via an accelerated bookbuild process, subject to standard closing conditions. Additionally, the statement by ITC …

ITC shares fall over 2% as BAT looks to sell stake as soon as this week
9 months, 1 week ago

ITC shares fall over 2% as BAT looks to sell stake as soon as this week

Live Mint  

ITC share price fell over 2% in early trade on Monday after reports that British American Tobacco Plc was looking to sale of part of its stake in the Indian partner as soon as this week. The London-listed BAT has been in talks with Bank of America Corp. and Citigroup Inc. for the potential divestment of ITC shares worth around …

BAT's stake sale in ITC is almost here
9 months, 1 week ago

BAT's stake sale in ITC is almost here

Live Mint  

MUMBAI : British American Tobacco Plc is preparing for its long-awaited stake sale in ITC Ltd in the next two weeks, two people aware of the matter said. The stake sale follows BAT chief executive Tadeu Marroco’s 8 February statement during the company’s earnings call that the company was focussed on improving its “financial flexibility". BAT has so far resisted …

ITC shares drop over 4% as BAT says working towards monetising some of its stake
10 months, 2 weeks 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 …

ITC shares snap three-day losing run, rebound 2% as street sees positives in hotel business demerger
1 year, 4 months ago

ITC shares snap three-day losing run, rebound 2% as street sees positives in hotel business demerger

News 18  

Snapping its three-day losing run, cigarettes-to-hotels conglomerate ITC shares rebounded by more than 2% in Wednesday’s trade. ITC shares declined nearly 6% in the three sessions after the company announced a proposal to demerge the hospitality business into a separate company named ITC Hotels Ltd. Shares of the company closed 1.85% lower at Rs 462.20 apiece on BSE on Tuesday …

ITC becomes India's most valuable FMCG stock ousting the country's Unilever unit
1 year, 5 months ago

ITC becomes India's most valuable FMCG stock ousting the country's Unilever unit

Hindustan Times  

Asia’s largest cigarette maker ITC Ltd. is set to reclaim its position as India’s most valuable fast-moving consumer goods stock after ousting Hindustan Unilever Ltd. from the spot. ITC, which primarily makes money by selling cigarettes but also holds interests in hotels, paper and consumer staples industries, saw its valuation jump above 6.1 trillion rupees for the first time ever …

ITC shares hit fresh 52-week high; should you buy?
1 year, 7 months ago

ITC shares hit fresh 52-week high; should you buy?

Live Mint  

The bullish run of ITC shares remains unabated as they rose nearly 2 per cent in morning trade to hit their fresh 52-week high of ₹442.50 on BSE on Thursday, looking set to extend its winning streak into the fifth consecutive session. The company outperformed analyst expectations with a 21.4 per cent surge in standalone net profit for the March …

ITC Share Gains 5% Post Q4 Results, Stocks Hit 3-Year High; Should You Buy?
2 years, 7 months ago

ITC Share Gains 5% Post Q4 Results, Stocks Hit 3-Year High; Should You Buy?

News 18  

Shares of ITC hit a 3 year high in Thursday’s opening deals after the FMCG major posted 12 per cent growth in net profit to Rs 4,195 crore for the January-March period, compared with Rs 3,755 crore a year ago. Staples and Convenience Foods remained resilient even as the pace of revenue growth witnessed moderation on a relatively high base,” …

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