Tuesday, 7 February 2017

Nifty below 8800, Sensex lower; ITC up 5% on SUUTI stake sale

Ripples Advisory Private Limited, Indore @9303093093

ITC shares gained 5 percent after government confirmed that it sold 2 percent shareholding in the company via block deals. It is a part of FY17 divestment target of Rs 45,500 crore that has been revised recently from Rs 56,500 crore earlier. The government, which held 11.12 percent stake (as of December 2016), is likely to get around Rs 6,700 crore through stake sale.

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