ITC Ltd Closing in on British American Tobacco in Value

Business by 2FIRSTS.ai

Mar.15.2024

ITC Ltd Closing in on British American Tobacco in Value

Indian tobacco major ITC Ltd's market value is catching up to British American Tobacco, which recently sold ₹17 billion worth of ITC shares.

According to a report by Moneycontrol, Indian tobacco giant ITC Ltd is rapidly catching up to British American Tobacco in terms of market value. British American Tobacco recently sold ITC shares worth approximately Rs 17,000 crore.

At present, the market value of ITC Limited is $64 billion, slightly lower than British American Tobacco's $68 billion. It is worth noting that while British American Tobacco's stock price has dropped by 21% in the past year, ITC's stock price has increased by approximately 11%.

British American Tobacco initially invested in this stock in the 1900s. Prior to this sale, British American Tobacco held around 29% of the shares in ITC.

References:

[1] ITC's market capitalisation catching up with British American Tobacco

Also Read:

[1] BAT Sells 3.5% Stake in ITC for $2.1 Billion

[2] BAT Initiates Stock Buyback and ITC Share Sale

[3] BAT Considering Sale of Partial Stake in Indian ITC Company

#Traditional tobacco #Asia #India #Major companies

We welcome news tips, article submissions, interview requests, or comments on this piece.

Please contact us at info@2firsts.com, or reach out to Alan Zhao, CEO of 2Firsts, on LinkedIn

Notice

1. This article is intended solely for professional research purposes related to industry, technology, and policy. Any references to brands or products are made purely for objective description and do not constitute any form of endorsement, recommendation, or promotion by 2Firsts.

2. The use of nicotine-containing products — including, but not limited to, cigarettes, e-cigarettes, nicotine pouchand heated tobacco products — carries significant health risks. Users are responsible for complying with all applicable laws and regulations in their respective jurisdictions.

3. This article is not intended to serve as the basis for any investment decisions or financial advice. 2Firsts assumes no direct or indirect liability for any inaccuracies or errors in the content.

4. Access to this article is strictly prohibited for individuals below the legal age in their jurisdiction.

Copyright

This article is either an original work created by 2Firsts or a reproduction from third-party sources with proper attribution. All copyrights and usage rights belong to 2Firsts or the original content provider. Unauthorized reproduction, distribution, or any other form of unauthorized use by any individual or organization is strictly prohibited. Violators will be held legally accountable.

For copyright-related inquiries, please contact: info@2firsts.com

AI Assistance Disclaimer

This article may have been enhanced using AI tools to improve translation and editorial efficiency. However, due to technical limitations, inaccuracies may occur. Readers are encouraged to refer to the cited sources for the most accurate information.

We welcome any corrections or feedback. Please contact us at: info@2firsts.com

PMI Japan Upgrades IQOS ILUMA i One with New Button Layout, Aluminum Base

PMI Japan has refreshed its all-in-one heated tobacco device, IQOS ILUMA i One, with upgraded materials and exterior design. Sales begin October 29 via IQOS stores and the official website. The new model retains core features such as auto-start and continuous use, but is not compatible with accessories from the previous version.

Oct.30 by 2FIRSTS.ai

South Korea’s Tobacco Law Amendment to Include Synthetic Nicotine, Projected to Add Up to $340 Million in Local Tax Revenue

Following the National Assembly’s approval of amendments to the Tobacco Business Act on September 22, redefining tobacco to include synthetic nicotine, the Korea Institute of Local Finance (KILF) estimates that local governments could gain between $37 million and $340 million in additional tax revenue in 2025 from tobacco consumption and local education taxes.

Nov.19 by 2FIRSTS.ai

Bhutan to Impose 115% Tax on E-cigarettes Starting January 2026

The Ministry of Health (MoH) of Bhutan has announced stronger actions to combat the growing threat of e-cigarette use, especially among youth. While no new vaping-related lung collapse cases have been reported since 2024, the MoH confirmed that fiscal and legal reforms are underway to include e-cigarettes in tax and tobacco control laws starting January 2026.

Nov.05 by 2FIRSTS.ai

BAT expands facial age-estimation checks: over 600 stores covered in Europe, targeting 1,000 by year-end

BAT has partnered with the Channel Islands Co-operative Society and Yoti to pilot facial age estimation in 10 Coop stores across Jersey. Customers scan a QR code and take a selfie; the system instantly deletes the image and returns only a yes/no against a minimum age threshold (set at 20) for the pilot. BAT already uses Yoti in 600+ stores across Europe and plans to reach 1,000 by year-end.