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ITC shares surge 8% following BAT's 3.5% stake sale; biggest intraday gain in 4 years

The stake sale could lead to a re-rating of ITC s stock, per experts and the increase in free float will cause an upward adjustment in the weights on the index. ....

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BAT stake sale unlikely to have any long-term impact on ITC, say analysts

The stake sale might be a bid by British American Tobacco to reduce its debt levels, while also meeting India’s stringent rules for foreign ownership in tobacco companies. ....

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