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The existing SEBI regulations on delisting make the delisting process cumbersome as it requires RBB for price discovery. Presently, achieving the 90% threshold in the RBB process is essential for successful delisting, but concerns have been raised about potential manipulation during price discovery stating that, some operator(s) start cornering shares as the delisting is announced and collectively hold more than 10% stake in the company then to achieve 90% threshold their participation becomes inevitable, leading to a very high discovered price, which may not always be the fair price of the stock.

​ITC, incorporated in the year 1910, is a Large Cap company (having a market cap of Rs 558780.88 Crore) operating in Tobacco sector.

On the technical charts, the RSI of the stock stood at 64.56.

The stock traded at a P/E multiple of 37.39, while the price-to-book value ratio stood at 5.03.

Research by ETMarkets uncovered that among 130 stocks held by more than 100 mutual fund schemes in July, around 38 stocks have risen over 25% in this calendar year.

As of 30-Jun-2023, promoters held 0.0 per cent stake in the company, while FIIs held 16.45 per cent and domestic institutional investors had 13.13 per cent.

The 4G subscriber base continued to grow for the eighth consecutive quarter and stood at 122.9 million as of June 2023 as against 122.6 million in the preceding quarter. However, the overall subscriber base declined to 221.4 million versus 225.9 million in Q4FY23.

The market is speculating on long-term growth prospects because the multiple that we apply is on the short term, the next year or the year after that the multiple comes up on that number.

A total of 13,412 shares changed hands on the counter till 12:12PM (IST).

The US dollar index has reached its highest level in four weeks, and benchmark 10-year Treasury yields surged to 4.20%, their highest point since November last Wednesday. However, some correction towards 4% has been observed over the last few days but the developed market and emerging market currencies felt tremors.