Negative impactOrders & Deals
Rs 9,395 crore block deal! GQG exits ITC shares after a sharp 30% crash this year
Economic Times 1 hr ago·8 Oct 2026, 2:37 pm
A GQG‑linked fund has sold about 36.5 crore ITC shares in a block deal worth roughly Rs 9,395 crore, marking a significant exit after the stock fell around 30 % this year. The transaction was executed off‑exchange, allowing the large volume to be transferred without immediate impact on the market price.
The sale comes as ITC continues to face pressure from concerns over higher taxes on its tobacco business and a sluggish recovery in trading volumes. At the same time, Fidelity and several domestic mutual funds have increased their holdings, suggesting that some investors still see value in the company despite the recent dip.
Investors will likely keep an eye on upcoming earnings results, any further developments in tax policy affecting tobacco, and whether trading volumes pick up, as these factors could influence ITC’s short‑term price movement.
Affected stocks
Bearish1 stock
Bull / bear label is derived from the article's AI sentiment — indicative, not advice. Prices may be delayed.
Key takeaways
- Concerns ITC (ITC).
- Category: Orders & Deals.
- AI reads the tone as negative (potentially bearish) for the stock.
- Assessed as a significant, market-relevant update.
Why it matters
A meaningful update for ITC worth tracking. The tone is negative — watch for downside reaction. Use the price and stock snapshot to gauge how the market is responding.
