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ITC witnessed a nearly Rs 9,437 crore block deal as a GQG-linked fund sold 36.51 crore shares, while Fidelity and major Indian mutual funds bought stakes. The transaction comes as ITC shares remain under pressure from taxation concerns and weak volume recovery.
GQG’s exit from ITC and Adani stocks adds to pressure on a market already hit by surging US bond yields, crude crossing $104 and relentless FPI selling