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Home›US Markets›Equities›ITC shares fall about 4% after a pre-market stake sale

ITC shares fall about 4% after a pre-market stake sale

The decline followed news that GQG Partners offloaded about ₹9,500 crore worth of ITC shares in a pre-market bulk deal, according to market experts cited by LiveMint.

Reported · Written up by our desk · Equities

ITC shares fell during Thursday trading after a pre-market bulk deal tied to a reduction in stake by FPI GQG Partners, LiveMint Markets reported.

The stock opened lower at ₹264 and hit an intraday low of ₹254.70 on the NSE, down about 4% from the previous close of ₹265.70.

LiveMint Markets said experts attributed the sell-off pressure to GQG Partners offloading a stake worth around ₹9,500 crore, while they expected the selloff to reverse because they saw no issues with ITC’s fundamentals.

The outlet also reported that experts pointed to an expectation of better Q2FY27 results and advised holders to continue holding, with a stop-loss set at ₹246.

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Sources

LiveMint MarketsITC share price dips 4%, will it bounce back? Experts' view, target price, stop-loss

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