ITC gains on acquiring 10.07% shares of Blupin Technologies
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ITC is currently trading at Rs. 270.50, up by 1.35 points or 0.50% from its previous closing of Rs. 269.15 on the BSE.
The scrip opened at Rs. 270.00 and has touched a high and low of Rs. 270.85 and Rs. 269.10 respectively. So far 19813 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 282.30 on 20-May-2022 and a 52 week low of Rs. 200.85 on 09-Jul-2021.
Last one week high and low of the scrip stood at Rs. 282.00 and Rs. 263.85 respectively. The current market cap of the company is Rs. 331680.43 crore.
The Institutions and Non-Institutions held 54.76% and 45.24% respectively in the company.
ITC has acquired 400 equity shares of Rs 10 each and 2,980 Compulsorily Convertible Cumulative Participating Preference Shares of Rs 100 each of Blupin Technologies, representing 10.07% of its share capital on a fully diluted basis.
The investment will provide the company an early mover advantage in the evolving content-to-community-to-commerce space and will provide an expanded presence in the D2C (direct-to-consumer) space.
ITC has business a interests in cigarettes, hotels, paperboards and specialty papers, packaging, agribusiness, packaged foods and confectionery, information technology, branded apparel, personal care, stationery, safety matches and other FMCG products.
