British American Tobacco p.l.c. (LSE:BATS) (BAT), the largest shareholder in India's ITC Limited (NSEI:ITC), is working with Wall Street banks Citigroup Inc. (NYSE:C) and Bank of America Corporation (NYSE:BAC) to help pare some of that stake and raise up to INR 210 billion ($2.5 billion), according to people with knowledge of the matter. This would translate to monetizing 3.5%-4% in ITC. However, no transaction will happen until the Reserve Bank of India (RBI) approves the move.
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
431.8 INR | -0.35% | -1.05% | -6.55% |
05-10 | Market Heavyweights Lifts Indian Equities to End Week Higher | MT |
05-07 | INDIA STOCKS-Indian shares give up early gains; volatility at 15-month high | RE |
Stocks mentioned in the article
Price
|
Change
|
5d. change
|
Capi.
| ||
---|---|---|---|---|---|
2,460 GBX | +1.11% | +3.06% | 67.61B | ||
431.8 INR | -0.35% | -1.05% | 64.77B | ||
EPS Revisions
1st Jan change | Capi. | |
---|---|---|
-6.55% | 64.77B | |
+20.03% | 50.23B | |
+3.68% | 7.46B | |
-15.64% | 5.47B | |
+3.25% | 2.51B | |
-11.07% | 2.14B | |
-28.11% | 1.74B | |
-14.07% | 1.22B | |
-17.29% | 1.11B | |
+0.58% | 1.02B |
- Stock Market
- Equities
- ITC Stock
- News ITC Limited
- British American Tobacco Reportedly Looks to Raise $2.5 Billion by Trimming Stake in ITC