ITC Witnesses Fall As Govt Divests Stake


Soon after the government on March 24 said that a part of the cigarette firm, ITC’s stake will be divested to Life Insurance Corporation of India, the stock of the the cigarette company on Monday's dropped by 1.2% to Rs 278.45 on the BSE platform.

Minister of State for Finance, Arjun Ram Meghwal in a written reply to the Lok Sabha on Friday had stated the divestment plan.

Through block trade on March 7, 2017, the government through the Unit Trust of India (SUUTI) divested 2% shares of the total share of ITC to LIC. As of December 31, 2016, LIC of India held 14.29% and SUUTI has held 11.1% stake in the company.

ITC Limited is engaged in the marketing of fast moving consumer goods (FMGC). The company operates through four segments: FMCG; hotels; paperboards, paper and packaging, and agri Business. The FMCG segment includes cigarettes, such as cigarettes and cigars, and others.

For Quick Trial – 8962000225 ✔
or mail us here: info@ways2capital.com
✆ - 0731-6626222 | Toll Free - 1800-3010-2007 
Give a Missed Call for Free Trial - 09699997717 
Share on Google Plus Share on Pinterest

About Suhani Varma

This is a short description in the author block about the author. You edit it by entering text in the "Biographical Info" field in the user admin panel.

0 comments: