ITC shares dropped nearly 4% on Thursday, making it the biggest loser on the Nifty 50 index after a block deal worth ₹9,437 crore was executed in the pre-open session. The stock traded at ₹255.25 on the NSE, close to its 52-week low of ₹254.65 recorded on October 1. Approximately 36.66 crore shares, or 2.9% of ITC’s outstanding equity, changed hands at an average price of ₹257 per share, according to thehindubusinessline.com.
The identities of the buyers and sellers involved in the block deal were not disclosed immediately. This transaction follows a recent disclosure that US-based fund house GQG Partners LLC sold 3.97 crore ITC shares through on-market transactions between May 28, 2025, and October 5, 2026. GQG Partners’ combined shareholding with its associates decreased to 3.17% from 3.48% of ITC’s total voting capital, thehindubusinessline.com reported.
ITC’s shares have declined 29.89% year-to-date, significantly underperforming the Nifty 50 index, which is down 14.45% over the same period. The stock’s 52-week high was ₹426.40 on October 31, 2025, marking a drawdown of roughly 40% from that peak. ITC’s total market capitalization stood at ₹3,19,716 crore as of Thursday, reflecting investor concerns amid the sell-off, according to thehindubusinessline.com.
The block deal involving 36.66 crore shares at ₹257 per share marks one of the largest single-day transactions for ITC this year. The stock’s performance and market capitalization figures were current as of Thursday’s trading session, thehindubusinessline.com confirmed.