ITC rises as its arm inks pact to acquire 100% stake in Blazeclan Technologies
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
ITC is currently trading at Rs. 422.00, up by 3.05 points or 0.73% from its previous closing of Rs. 418.95 on the BSE.
The scrip opened at Rs. 417.60 and has touched a high and low of Rs. 420.30 and Rs. 416.30 respectively. So far 55906 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 499.60 on 24-Jul-2023 and a 52 week low of Rs. 397.95 on 20-Apr-2023.
Last one week high and low of the scrip stood at Rs. 429.00 and Rs. 416.30 respectively. The current market cap of the company is Rs. 523047.41 crore.
The Institutions and Non-Institutions held 85.29% and 14.71% stake respectively in the company.
ITC’s wholly owned subsidiary -- ITC Infotech India has entered into a Share Purchase Agreement for acquisition of 100% of the share capital of Blazeclan Technologies. This acquisition is expected to augment ITC Infotech’s capabilities to service its customers in a multi-cloud and hybrid cloud environment with focus on the Partner eco-system to accelerate future growth.
The acquisition is expected to strengthen ITC Infotech’s commitment to helping clients navigate their digital transformation journey and deliver business outcomes built on the foundation of strong Cloud capabilities. It is expected that the proposed acquisition will be completed in 6 to 8 weeks, subject to completion of the customary closing conditions.
ITC has business a interests in cigarette
