ITC stock down 4% as BAT prepares to pare stake
Thu, Feb 8, 2024 2:56 PM

ITC stock down 4% as BAT prepares to pare stake

A Flip by Shubhangi Gupta
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ITC stock fell 4% due to its largest shareholder, British American Tobacco (BAT), announcing plans to pare its stake in the conglomerate. BAT holds a 29.03% stake, worth Rs 1.5 lakh crore, and is working on completing regulatory process to monetize some shares. This decision could lead to offloading shares worth Rs 20,760 crore.

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