ITC stock bounced back sharply a day after GQG sold a nearly Rs 10,000 crore block deal stake, with buying from Fidelity, City Group, Edelweiss Mutual Fund and domestic funds

Fri 9 Oct 2026

GQG block deal size

nearly Rs 10,000 crore

Stock move today

2.75 percent higher

Current trading price

262 rupees

Distance from all-time high

50 percent

All-time high level

close to Rs 500

Heard on business television between 11:19:29 - 11:22:29 IST.

• ITC rose to highest point of the day, up about 2.75% at Rs 262, recovering from previous day's block-deal driven drop
• GQG sold stake worth nearly Rs 10,000 crore in a clean-out block trade, removing immediate supply overhang; Fidelity, City Group, Edelweiss Mutual Fund and other domestic funds bought in
• Stock still about 50% away from all-time high last seen in July 2017; consensus FY27 and FY28 EPS cuts of 23% and 21% respectively
• Trades at 17x FY27 and 15x FY28 earnings, a discount to historic valuations, with 6% dividend yield; 75% of tax increase passed on via price hikes so far with more calibrated hikes expected
• Growth continues in FMCG and paper segment recovering; Happiest Minds acquisition adds Rs 5-7 to sum-of-parts valuation; risks include cigarette volume pressure, illicit competition, regulatory risk, and BAT's 23.1% stake overhang after it sold $1.5 billion stake in May 2025; 55% of analysts still have buy rating

Nothing here is a view, opinion or recommendation of ScoutQuest, its parent, directors or employees. ScoutQuest is a technology company: this page was assembled automatically from public sources using artificial intelligence, and may contain errors or omissions. Confirm everything against the original source before you act on it. Any use of this page is at your own risk, and neither ScoutQuest nor its parent, directors or employees accepts liability for it.