# GQG Sells ITC Shares in Rs 9,395 Crore Block Deal

> GQG Partners exits ITC shares in Rs 9,395 crore block deal amid 30% annual stock drop.
- Title: GQG Sells ITC Shares in Rs 9,395 Crore Block Deal | Shortify
- Summary: GQG Partners exits ITC shares in Rs 9,395 crore block deal amid 30% annual stock drop. GQG Partners sold Rs 9,395 crore of ITC shares after a 30% annual…
- Keywords: gqg partners, itc shares, fidelity, icici prudential mutual fund, sbi mutual fund, itc stock price, itc cigarette business, itc fmcg, money, business, GQG, Sells
- Source: The Economic Times — https://economictimes.indiatimes.com/markets/stocks/news/rs-9395-crore-block-deal-gqg-exits-itc-shares-after-a-sharp-30-crash-this-year/articleshow/134793639.cms
- Author: Akash Podishetti
- Published: 2026-10-08T14:37:00+00:00
- Read time: 1 min
- Topics: gqg partners, itc shares, fidelity, icici prudential mutual fund, sbi mutual fund, itc stock price, itc cigarette business, itc fmcg, money, business
## GQG Partners Sells ITC Shares
A GQG-linked fund sold Rs 9,395 crore of ITC shares at Rs 257.35 each.

> Rs 9,395 crore of ITC shares
## Major Buyers Enter ITC
Fidelity Advisor Overseas Fund bought 13.4 crore shares worth Rs 3,448 crore, while ICICI Prudential Mutual Fund purchased 9.4 crore shares for Rs 2,419 crore.

> Fidelity Advisor Overseas Fund bought 13.4 crore shares
## ITC Shares Drop 30% This Year
ITC shares fell nearly 30% this year due to cigarette tax concerns, weak volume recovery, and low investor interest in defensive consumer stocks.

> ITC shares fell nearly 30% this year
## Alliance Witan Sells Shares
Alliance Witan Plc sold 16.11 lakh shares worth Rs 41 crore in the block deal.

> Alliance Witan Plc sold 16.11 lakh shares
## Other Buyers Include Mutual Funds
SBI Mutual Fund, Mirae Asset Mutual Fund, Edelweiss Mutual Fund, and others bought ITC shares in the trade.

> SBI Mutual Fund bought 3.76 crore shares
## HDFC Securities Ratings
HDFC Securities maintains an 'Add' rating on ITC with a target price of Rs 300, valuing cigarettes at Rs 137 per share.

> HDFC Securities maintains an 'Add' rating
## ITC Hotels Business Outlook
Jefferies expects sustained revenue for ITC Hotels due to strong domestic travel demand and a shift toward asset-light hotel management.

> Jefferies expects sustained revenue for ITC Hotels
## Key takeaway

GQG Partners sold Rs 9,395 crore of ITC shares after a 30% annual decline, with Fidelity and mutual funds buying.