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Itc Limited Share: British American Tobacco (BAT) has sold its 2.57 percent stake in ITC, after which ITC shares fell on Wednesday. BAT sold his share in ITC for Rs 11613 crore. Today, ITC shares have recorded a decline of about 5 percent. With this, the share on BSE slipped 4.33 percent to Rs 415.10. In NSE, it has fallen 4.81 percent to Rs 413. BSE Sensex companies have been the biggest decline in ITC shares. & Nbsp;
The effect of this decline on the market is also
The impact of the decline in ITC shares in morning trading was also seen on the market. The 30 -share BSE benchmark index Sensex fell 122.44 points to close at 81,417.60. At the same time, NSE Nifty slipped 40.70 points and closed at 24,786.70. According to revised documents associated with the terms of the deal with news agency PTI, the British American Tobacco (BAT) on Wednesday reduced its share in ITC by 2.3 percent in ITC through block deal of Rs 11,613 crore (US $ 1.36 billion). & Nbsp;
Earlier there was so much share in ITC
British American Tobacco (BAT) has sold its stake in ITC through its branch Tobacco Manufacturers (India) Limited. Vijaykumar, Chief Investment Strategist of Geojit Investments Limited, said, “The BAT’s decision to sell 2.3 percent stake in ITC will keep the stock softening.”" Prior to this deal, its other associate companies like Rothmans International Enterprises, Midalton Investment Company and Tobacco Manufacturers (India) Limited had a 25.44 percent share in ITC."Text-Align: justify;"> According to the block deal, 29 crore equity shares of ITC were sold at a floor price of Rs 400 per share. Sources said that it is about 7.8 percent less than Rs 433.90 on NSE on NSE. 29 crore shares are equivalent to about 2.3 per cent stake in the company. & nbsp;
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