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
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5-day change | 1st Jan Change | ||
433.4 INR | +1.94% | -0.71% | -6.22% |
10/05 | Market Heavyweights Lifts Indian Equities to End Week Higher | MT |
07/05 | INDIA STOCKS-Indian shares give up early gains; volatility at 15-month high | RE |
Stocks mentioned in the article
Price
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Change
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5d. change
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Capi.
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2,433 GBX | +1.33% | +3.31% | 67.61B | ||
433.4 INR | +1.94% | -0.71% | 64.77B | ||
EPS Revisions
1st Jan change | Capi. | |
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-6.22% | 64.77B | |
+11.30% | 77.12B | |
+20.99% | 50.23B | |
+4.26% | 7.46B | |
-15.64% | 5.47B | |
-1.50% | 2.51B | |
-12.05% | 2.14B | |
-27.70% | 1.73B | |
-13.73% | 1.22B | |
+0.58% | 1.02B |
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- British American Tobacco Reportedly Looks to Raise $2.5 Billion by Trimming Stake in ITC