ITC inches up on acquiring additional stake in Mother Sparsh Baby Care
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ITC is currently trading at Rs. 345.85, up by 0.05 points or 0.01% from its previous closing of Rs. 345.80 on the BSE.
The scrip opened at Rs. 346.00 and has touched a high and low of Rs. 348.65 and Rs. 345.65 respectively. So far 669208 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 354.00 on 21-Oct-2022 and a 52 week low of Rs. 207.00 on 24-Feb-2022.
Last one week high and low of the scrip stood at Rs. 349.90 and Rs. 343.50 respectively. The current market cap of the company is Rs. 430600.26 crore.
The Institutions and Non-Institutions held 55.50% and 44.51%, stake in the company respectively.
ITC has acquired 1000 Compulsorily Convertible Preference Shares of Rs 10 each of Mother Sparsh Baby Care (Mother Sparsh). With this acquisition, the company’s shareholding in Mother Sparsh aggregates 22% of its share capital on a fully diluted basis.
Earlier, the company had entered into an agreement to acquire further 1000 Compulsorily Convertible Preference Shares of Rs 10 each of Mother Sparsh. Previously, the company had acquired 1,040 Compulsorily Convertible Preference Shares of Rs 10 each of Mother Sparsh in the second tranche.
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.
