Shares of ITC Ltd dropped 3.8% to ₹417.6 on May 28 after a large block deal involving around 32 crore shares (2.56% equity) worth ₹13,334 crore. The shares were exchanged at ₹417 apiece—a 4% discount to the previous close. British American Tobacco (BAT), ITC’s largest shareholder, is believed to be trimming its stake by 2.3% in this transaction, following a 3.5% stake sale last year. Post-deal, BAT will retain a 23.1% stake. BAT said the move aims to improve financial flexibility, reduce debt, and fund its £1.1 billion buyback plan. While confirming it’s evaluating a sale, BAT emphasized ITC remains a strategic asset with strong long-term potential in India.

#EquityResearch#PersonalFinance#TrendingSectors#TechnicalViews#Today’sTradingSetup

229 likes·74 comments