FMCG major ITC’s weight will go up in the S&P BSE Sensex, resulting in likely inflows of $50 million, according to estimates by Nuvama. Today, Sensex will adjust ITC’s free float factor as a result of British American Tobacco’s (BAT) 3.5% stake sale in the company. Meanwhile, the adjustment on Nifty will be done during … Read more
Mumbai: The ITC stock could run up by another 10-15% in the near term after gaining 4.5% on Wednesday as the stake sale by British American Tobacco (BAT) in the tobacco-to-FMCG major has removed an overhang for the stock, said analysts. “Major uncertainties hovering around the stock are over, while business fundamentals are intact,” said … Read more
The Sword of Damocles hanging over the head of ITC shareholders has finally fallen down but no one is hurt. The key event of London’s British American Tobacco (BAT) stake sale, which was initially perceived to be a key supply hangover for ITC, ended up pushing the Nifty stock 8.6% higher leading to a windfall … Read more
