ITC shares decline over 3%; market valuation drops by ₹17,269 crore
Shares of ITC dropped over 3% after British multinational BAT Plc trimmed its ownership in the conglomerate by divesting a 2.5% stake for ₹12,927 crore ($1.51 billion) through a block deal.
The stock declined 3.18% to settle at ₹420.10 on the BSE. During the day, it lost 4.33% to ₹415.10.
At the NSE, it dropped 2.97% to ₹421.
The company's market valuation declined by ₹17,269.48 crore to ₹5,25,718.17 crore.
The stock emerged as the biggest laggard among the BSE Sensex firms.
The BSE barometer declined 239.31 points or 0.29% to settle at 81,312.32. The NSE Nifty dropped 73.75 points or 0.30% to 24,752.45.
British American Tobacco (BAT), through its arm Tobacco Manufacturers (India) Ltd, sold the stake in Kolkata-based ITC, according to a revised term sheet accessed by PTI.
Before the latest transaction, BAT through its affiliates— Rothmans International Enterprises, Myddleton Investment Company and Tobacco Manufacturers (India) Ltd— owned a combined 25.44% stake in ITC Ltd.
Following the completion of the block trade, BAT will remain a significant shareholder of ITC, with less than 23% stake in ITC.
As per the latest block deal, up to 31.3 crore equity shares of ITC were sold at a final price of ₹413 per share.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
India.com
32 minutes ago
- India.com
Bad news for Noel Tata, this company reports 9% decline in sales, share price fell by…
Tata Motors on Sunday reported a 9 per cent year-on-year decline in total sales at 70,187 units in May. The Mumbai-based auto major had reported total sales of 76,766 units in May 2024. Domestic sales declined 10 per cent year-on-year to 67,429 units, as compared to 75,173 units in the year-ago period Tata Motors said in a statement. Total passenger vehicle sales declined 11 per cent year-on-year to 42,040 units in May. Commercial vehicles sales stood at 28,147 units, as compared to 29,691 units, a dip of 5 per cent. At 9:20 am, shares of the company were trading at Rs 711, lower by 1.2 percent from the last close. Tata Motors declined 2 percent to Rs 707 in morning trade on June 2 after the report of dip in company's vehicle sales. Tata Motors shares are down 3 percent since the beginning of the year. The company reported a 51 percent fall in net profit in the quarter ended March 2025. It posted a consolidated net profit of Rs 17,407 crore in the same quarter last fiscal. Its consolidated total revenue from operations increased 0.4 percent at Rs 1,19,503 crore against Rs 1,19,033 crore in the year-ago period. However, the sales volumes at JLR rose 1.1 percent in the quarter, due to a strong demand for its SUVs in North America and Europe. Jefferies has given an 'underperform' rating on Tata Motors with a target price of Rs 630 per share. (With Inputs From PTI)
&w=3840&q=100)
Business Standard
37 minutes ago
- Business Standard
Nykaa shares slip 4% despite posting healthy Q4; Is it buying opportunity?
Nykaa share price: FSN E-Commerce Ventures, the parent company of Nykaa shares fell 4.3 per cent in trade on Monday, June 2, 2025, logging a day's low at ₹194.45 per share on BSE. The selling pressure came after the company posted its Q4 results. In the past one year, Nykaa shares have gained 25 per cent as compared to Sensex's rise of around 7 per cent. At 11:42 AM, Nykaa share price was down 3.3 per cent at ₹196.5 per share on the BSE. In comparison, the BSE Sensex was down 0.52 per cent at 81,031.15. The market capitalisation of the company stood at ₹55,749.78 crore. The 52-week high of the stock was at ₹229.9 per share and the 52-week low of the stock was at ₹149.65 per share. Nykaa Q4 results 2025 The online beauty retailer released its Q4 results on Friday, after market hours. In its fourth quarter ended March 31, 2025, the company reported a 193 per cent rise in consolidated net profit at ₹20.28 crore for Q4FY25, compared to ₹6.93 crore in the year-ago period. Its revenue from operations also jumped 23.6 per cent year-on-year (Y-o-Y) to ₹2,062 crore in Q4FY25, from ₹1,668 crore in Q4FY24. Nykaa's earnings before interest, taxes, depreciation, and amortisation (Ebitda) for the quarter expanded 43 per cent YoY to ₹133 crore. The company's gross merchandise value (GMV) also increased 27 per cent YoY to ₹4,102 crore in Q4FY25. Nykaa Q4 results 2025 analysis: Elara Capital | Accumulate | Target raised to ₹215 per share from ₹195 "Nykaa's Q4 was in-line. Beauty and personal care (BPC)/Fashion GMV grew 30.8 per cent/18.4 per cent Y-o-Y in Q4. Ebitda margin in Q4 rose 88 basis points (bps), supported by BPC, and could have been better but for lower losses in the fashion segment," Elara said in its note. The brokerage cut its earnings per share (EPS) estimates by 5-12 per cent for FY26E-27E to reflect fashion segment losses in Q4. Nykaa Q4 results 2025 analysis: JM Financial Institutional Securities | Buy | Target: ₹250 "Nykaa BPC segment is going from strength to strength, delivering 31 per cent GMV growth Y-o-Y along with 25 per cent revenue growth. While Fashion GMV growth gained momentum (18 per cent Y-o-Y), margins disappointed due to marketing investments," the brokerage said in its note. It added Nykaa's ability to deliver robust growth in a tepid demand environment along with margin enhancement demonstrates its differentiated market positioning.
&w=3840&q=100)
Business Standard
37 minutes ago
- Business Standard
Godrej acquires 14-acre land in Pune to build project worth Rs 4,200 cr
Realty firm Godrej Properties Ltd has acquired a 14-acre land in Pune to develop a housing project with a revenue potential of Rs 4,200 crore as part of its expansion plan. In a regulatory filing on Monday, Godrej Properties said it will develop the 14-acre land parcel in Kharadi - Wagholi, Pune. The development on this land will comprise primarily premium group housing. "The project will have a developable potential of 3.7 million square feet with an estimated revenue potential of Rs 4,200 crore," the company said. Gaurav Pandey, MD & CEO, Godrej Properties, said, "Kharadi - Wagholi is one of the most sought-after destinations in Pune, and we are happy to mark our entry into this micro market. This further enhances our presence in Pune and fits within our strategy of strengthening our presence across key micro-markets in India." "We will aim to build a high-quality development that creates long-term value for its residents," Pandey said. Mumbai-based Godrej Properties is one of the leading real estate developers in the country. The company has a significant presence in Mumbai Metropolitan Region, Delhi-NCR, Bengaluru and Pune. It has recently entered the Hyderabad property market. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
