ITC shares rose after Rajiv Jain-backed GQG sold shares worth Rs 9,395 crore, reducing its stake amid a sharp stock decline. Cigarette tax hikes, inflation and rising oil prices weighed on performance. Investors now await quarterly earnings, while brokerages remain divided on the stock’s outlook and valuation prospects.
ITC shares rose after Rajiv Jain-backed GQG sold shares worth Rs 9,395 crore, reducing its stake amid a sharp stock decline. Cigarette tax hikes, inflation and rising oil prices weighed on performance. Investors now await quarterly earnings, while brokerages remain divided on the stock’s outlook and valuation prospects. by Soban News (international And National News)
