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How BAT Stake Sale Will Change ITC Dynamics Within Nifty
The 4% stake amounts to 49.90 crore shares that would be sold in the market over the next few weeks. This would lead to demand for the stock from index funds to rebalance their portfolios.
12 Mar 2024, 09:07 AM IST 
How BAT Stake Sale Will Change ITC Dynamics Within Nifty—NDTV Profit Exclusive
British American Tobacco Plc. may sell 4% of ITC Ltd. in the coming days, increasing its free-float weight factor and forcing index funds to rebalance their portfolio.BAT will pare its stake in ITC from 29% to 25% in the next few days, according to a report by Bloomberg. The stake sale will be valued at a little over Rs 20,400 crore, or $2.46 billion, at the current market prices.BAT plans to conclude the stake sale before the end of...
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