ITC Share Price Hits 52-Week Low After ₹9,437 Crore Block Deal: What Happened and Who Owns ITC
ITC is one of India's most widely held stocks, owned by millions of retail investors, mutual funds and LIC. On Thursday, October 8, 2026, it was also the Nifty's biggest loser. A single block deal worth ₹9,436.90 crore hit the market before the opening bell, and the ITC share price slid to a fresh 52-week low.
So who sold, does it say anything about the business, and where does the stock stand now? Here's the full picture. For live prices, see the ITC share price page on GoPocket.
Key Takeaways
- 36,66,95,297 ITC shares, about 2.9% of the company, changed hands at an average ₹257.35 in a pre-open block deal on October 8.
- The deal followed a disclosure that GQG Partners had cut its holding from 3.48% to 3.17%.
- ITC closed at ₹255.00 on NSE, down 4.03%, after touching a 52-week low of ₹253.15.
- The stock is about 40% below its 52-week high of ₹426.40 and down around 30% in calendar 2026.
- Analysts quoted in news reports linked the fall to share supply, not a fresh change in fundamentals.
The ₹9,437 Crore ITC Block Deal Explained
A block deal is a large trade, a minimum of ₹10 crore, executed between institutions in a special window rather than through regular buying and selling. On October 8, Business Today reported that 36,66,95,297 ITC shares traded at an average price of ₹257.35, valuing the transaction at ₹9,436.90 crore. The names of the buyers and sellers weren't immediately disclosed.
The deal came days after GQG Partners LLC disclosed that it had sold 3.97 crore ITC shares through market transactions between May 28, 2025 and October 5, 2026. After those sales, GQG and entities acting with it held 3.17% of ITC, down from 3.48%.
Why did the price fall even though a block deal is, by definition, matched? Because the shares were placed at ₹257.35, below Wednesday's close of ₹265.70. When a big lot changes hands at a discount, the rest of the market tends to reprice towards it. Abhinav Tiwari of Bonanza told Moneycontrol that the decline looked like "a supply driven correction from the large block trade rather than a change in ITC's fundamentals."
ITC Share Price: Where It Stands Now
| Metric | Value | Date |
|---|---|---|
| Close | ₹255.00 (-4.03%) | October 8, 2026 |
| Previous close | ₹265.70 | October 7, 2026 |
| Block deal price | ₹257.35 | October 8, 2026 |
| 52-week low | ₹253.15 | October 8, 2026 |
| 52-week high | ₹426.40 | October 31, 2025 |
| Distance from 52-week high | -40.2% | – |
| Volume on NSE | 5.37 crore shares | October 8, 2026 |
Source: NSE bhavcopy data; block deal figures from Business Today.
One detail worth noting: ITC closed below the block deal price. That means the institutions that picked up shares at ₹257.35 were sitting on a small loss by the end of day one.
Who Owns ITC? The Shareholding Picture
ITC is unusual among India's large companies: it has no promoter. That makes institutional flows especially important for the stock. Based on the June 30, 2026 shareholding reported by Business Today:
| Shareholder | Stake |
|---|---|
| British American Tobacco (through three subsidiaries) | 22.91% |
| Domestic mutual funds | 16.5% |
| Life Insurance Corporation of India | 16.3% |
| Specified Undertaking of the Unit Trust of India (SUUTI) | 7.78% |
| GQG Partners and associates (after recent sales) | 3.17% |
BAT itself has sold ITC shares in large block trades before, including a stake sale in 2025 at ₹413 per share, as Reuters reported at the time. That trade price is a useful reminder of how far the stock has come down since.
Why Is the ITC Share Price Down 30% in 2026?
The block deal was the trigger on October 8, but the slide has been building all year. The main reason cited across reports is a sharp increase in cigarette taxation, which put pressure on ITC's most profitable business. ITC has responded with price hikes. Moneycontrol noted that in September, the price of Gold Flake Super Star 10s rose to ₹89 from ₹79, and Gold Flake Premium 10s to ₹135 from ₹125.
Higher prices protect margins, but they can push some smokers towards cheaper or illicit products. That volume risk is what the market has been weighing all year. Brokerages remain divided on how quickly cigarette profitability recovers through FY27.
ITC Dividend History in the Past Year
ITC has a long record of regular payouts. NSE data shows an interim dividend of ₹6.50 per share (ex-date February 4, 2026) and a final dividend of ₹8 per share (ex-date May 27, 2026). Dividends are taxable at your income slab rate, and a past payout doesn't guarantee a future one.
What to Watch Next
- Further institutional selling: Any more large block deals could keep pressure on the stock in the near term.
- Q2 FY27 results: Cigarette volumes and margins after the price hikes will be the key numbers.
- Taxation news: Any change in tobacco taxes directly affects the cigarette business.
- ITC Hotels: ITC still holds about 40% of the demerged hotels company, which affects how investors value the group.
Track the ITC share price and shareholding on GoPocket.
Sources
- Business Today, ITC shares slip to hit 52-week low; Rs 9,437 crore block deal in focus, October 8, 2026
- Moneycontrol (via TradingView), ITC stock falls over 4%, among top Nifty losers as Rs 9,437-crore block deal follows GQG stake sale, October 8, 2026
- Goodreturns, ITC Share Price Falls After Rs 9,437 Crore Block Deal, October 8, 2026
- Reuters (via Yahoo Finance), British American Tobacco sells $1.5 billion stake in India's ITC via block deal, 2025
- NSE bhavcopy and corporate action data for ITC, as of October 8, 2026
Disclaimer: This article is for information and educational purposes only. It is not a recommendation to buy, sell or hold ITC shares or any other security. Past performance does not indicate future returns. Please do your own research or consult a SEBI-registered investment adviser before investing.
