ITC hits four-month low, stock falls over 12% in one week

Y C Deveshwar, Chairman and whole-time director of ITC has sold nearly 190,000 equity shares via open market in past one week.

ITC has dipped nearly 3% at Rs 291, extending its 10% fall in past one week, on the National Stock Exchange (NSE).

Shares of fast moving consumer goods giant currently trading at its lowest level since April this year, slipped 24% from its recent high of Rs 380 touched on July 24.

According to information filed with the stock exchange, Y C Deveshwar, chairman and wholetime director of the cigarette major, has sold nearly 190,000 equity shares of the company for Rs 6.36 crore through open market transaction.

On August 13, Y C Deveshwar had sold 27,223 shares and 100,000 shares on August 14, while on August 16, he sold another 62,055 shares at an average price of Rs 336 per share on NSE, according to information filed by the company with the stock exchange.

Meanwhile, on August 16, Deveshwar has acquired 1.08 million shares of the company on exercise of options under the ITC employee stock option schemes, ITC said.

The stock opened at Rs 301 and hit a high of Rs 306 on NSE. A combined 4.38 million shares change hands on the counter so far on NSE and BSE.