ITC shares will be in focus after GQG Partners raised its stake to 5.47% via a bulk deal on May 28, following British American Tobacco’s 2.5% stake sale. GQG acquired an additional 0.51%, reaffirming strong institutional interest. BAT, ITC’s largest shareholder, trimmed its holding to 22.9% to fund a £1.1 billion share buyback programme.
Originally published by The Economic Times https://economictimes.indiatimes.com/markets