Brokerages see up to 25% upside for ITC post BAT stake sale

With today's sharp rally, technically ITC is seen trading close to its long-term moving average on the daily charts.

The stock of ITC surged nearly 9 per cent to a high of Rs 439 in Wednesday’s intra-day deals on heavy volumes amid buzz of British American Tobacco (BAT) stake sale.

At 10 AM, ITC quoted at Rs 427, up 6 per cent on trades of around 439 million shares on the BSE. Reports suggested that BAT planned to sell up to 3.5 per cent stake, a deal involving 436.9 million shares via block deals today. READ MORE

ITC has been an underperformer in the calendar year 2024 so far, having declined almost 12 per cent as of March