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English singer-songwriter Ed Sheeran is in India for his second concert in Mumbai. He kicked off his Indian tour by visiting a school in the city.

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In Bengaluru where the water crisis in Bengaluru continues to worsen. To cope with the current situation Civil Authorities in the Southern Indian city has prohibited the use of drinking water in swimming pools due to which several pools across the city face the threat of closure.

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ITC, one of India's prominent cigarette manufacturers, experienced a surge in its shares, rising over 8 per cent on Wednesday.

This jump followed the sale of approximately 3.5 per cent of its total float shares at a premium, shortly after its major shareholder, British American Tobacco (BAT), announced intentions to reduce its stake.

The block trade, which saw around 4.4 million ITC shares sold at $5.25 each, amounted to approximately $23 million and was executed at a 7.6 per cent premium to the stock's closing price on the preceding day, according to data from LSEG.

The&nbsp;uptick in ITC's shares prompted a noteworthy response in the market, with the company's stocks initially surging by as much as 8.3 per cent before moderating to about a 6 per cent increase, trading at $5.19.

This rally positioned ITC's shares for their most significant intraday surge since mid-September 2021, making them the top gainer on the Nifty 50 index, despite the broader index experiencing a slight decline of 0.2 per cent.

British American Tobacco, renowned for brands such as Dunhill and Lucky Strike, had previously disclosed its plans of reducing its stake in ITC, standing at approximately 29 per cent.

In its announcement on Monday, BAT indicated its consideration of selling a "small part" of its holdings in ITC, the manufacturer of Goldflake cigarettes.

Following BAT's disclosure, ITC's shares experienced a marginal decline of 1.2 per cent the subsequent day.

Regardless of &nbsp;this, the recent surge has reversed the stock's trajectory, with gains of nearly 4 per cent since BAT's initial plan to divest shares was revealed.

While the recent block deal spurred speculation regarding BAT's involvement, clarity on the matter remains elusive.

Analysts suggest that BAT may seek to maintain a stake of at least 25 per cent in ITC to retain its board seats and influence over the company's strategic decisions, as outlined by brokerage firm Jefferies in a note on Monday.

Cigarettes constitute the primary revenue source for ITC, contributing to over 40 per cent of its total revenue.

In line with its efforts to streamline its operations, the company has undertaken initiatives to consolidate its business, including plans to spin off its hotel business.

(With inputs from Reuters)

ITC, one of India's prominent cigarette manufacturers, experienced a surge in its shares, rising over 8 per cent on Wednesday. This jump followed the sale of approximately 3.

ITC, one of India's prominent cigarette manufacturers, experienced a surge in its shares, rising over 8 per cent on Wednesday. This jump followed the sale of approximately 3.5 per cent of its total float shares at a premium, shortly after its major shareholder, British American Tobacco (BAT), announced intentions to reduce its stake. The block trade, which saw around 4.4 million ITC shares sold at $5.25 each, amounted to approximately $23 million and was executed at a 7.6 per cent premium to the stock's closing price on the preceding day, according to data from LSEG. The uptick in ITC's shares prompted a noteworthy response in the market, with the company's stocks initially surging by as much as 8.3 per cent before moderating to about a 6 per cent increase, trading at $5.19. This rally positioned ITC's shares for their most significant intraday surge since mid-September 2021, making them the top gainer on the Nifty 50 index, despite the broader index experiencing a slight decline of 0.2 per cent. British American Tobacco, renowned for brands such as Dunhill and Lucky Strike, had previously disclosed its plans of reducing its stake in ITC, standing at approximately 29 per cent. In its announcement on Monday, BAT indicated its consideration of selling a "small part" of its holdings in ITC, the manufacturer of Goldflake cigarettes. Following BAT's disclosure, ITC's shares experienced a marginal decline of 1.2 per cent the subsequent day. Regardless of this, the recent surge has reversed the stock's trajectory, with gains of nearly 4 per cent since BAT's initial plan to divest shares was revealed. While the recent block deal spurred speculation regarding BAT's involvement, clarity on the matter remains elusive. Analysts suggest that BAT may seek to maintain a stake of at least 25 per cent in ITC to retain its board seats and influence over the company's strategic decisions, as outlined by brokerage firm Jefferies in a note on Monday. Cigarettes constitute the primary revenue source for ITC, contributing to over 40 per cent of its total revenue. In line with its efforts to streamline its operations, the company has undertaken initiatives to consolidate its business, including plans to spin off its hotel business. (With inputs from Reuters)

ITC shares surge after block trade, while BAT plans to reduce stake

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India yesterday, Mission Divyastra - the first flight test of indigenously developed Agni-5 missile with Multiple Independently Targetable Re-entry Vehicle (MIRV) technology.

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Prime Minister Narendra Modi along with delegates from more than 30 countries witnessed the tri-service exercise 'Bharat Shakti' in Pokhran, Rajasthan on Tuesday. The manifestation of the Indian armed forces' drive to become self-reliant can be gauged by analysing the procurement undertaken. The demonstration showcased the calibrated tactical employment of niche technology in a tri-services environment against perceived threats.

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Indian Prime Minister to visit Gujarat and Rajasthan on 12th March, 2024. At around 9:15 AM, Prime Minister will dedicate to the nation and lay the foundation stone of various developmental projects worth over Rs. 1,06,000 crores at Ahmedabad.

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In the intervening night of 11th and 12th March, the Indian Coast Guard (ICG) apprehended a Pakistani boat with six crew, and seized narcotics worth Rs&nbsp;480 crore or approximately $60 million. The boat was apprehended about 350 km&nbsp;off Porbandar, Gujarat in Western India, along the sea lane that leads to Pakistan.

The operation that involved vessels and Dornier maritime patrol aircraft of the Coast Guard, is a result of the synergy between the Indian Coast Guard, Narcotics Control Bureau and Gujarat Anti-Terror Squad.&nbsp;

Also read:&nbsp;<a data-ctorig="https://www.wionews.com/india-news/india-would-have-escalated-situation-if-abhinandan-wasnt-released-ex-indian-envoy-to-pak-tells-wion-678353" data-cturl="https://www.google.com/url?client=internal-element-cse&amp;cx=006054055338965708568:09spwrlibei&amp;q=https://www.wionews.com/india-news/india-would-have-escalated-situation-if-abhinandan-wasnt-released-ex-indian-envoy-to-pak-tells-wion-678353&amp;sa=U&amp;ved=2ahUKEwiElLa85O6EAxW53TgGHUw4BqAQFnoECAAQAg&amp;usg=AOvVaw0pzh9L3PNkVjojsXGy7QcU&amp;arm=e" dir="ltr" href="https://www.wionews.com/india-news/india-would-have-escalated-situation-if-abhinandan-wasnt-released-ex-indian-envoy-to-pak-tells-wion-678353" target="_blank">'India&nbsp;would have escalated situation if Abhinandan wasn't released'</a>

According to the ICG, based on intelligence input, its assets were strategically positioned in the Arabian sea on 11th March, Monday, and they had also deployed a Dornier plane to scan and locate a suspicious vessel.

After an extensive search, the ICG with teams of the NCB and ATS Gujarat, spotted the suspected boat and observed that it was performing evasive manoeuvres, which ensued in ICG vessels chasing it and ICG teams boarding and examining the target vessel.

The Visit-Board-Search-Seize(VBSS) operation led to the seizure of 80 kg of drugs from the Pakistani vessel with six crew members.&nbsp;

Also read:&nbsp;<a data-ctorig="https://www.wionews.com/india-news/india-borders-troops-on-toes-against-hordes-of-drug-carrying-drones-from-pakistan-674012" data-cturl="https://www.google.com/url?client=internal-element-cse&amp;cx=006054055338965708568:09spwrlibei&amp;q=https://www.wionews.com/india-news/india-borders-troops-on-toes-against-hordes-of-drug-carrying-drones-from-pakistan-674012&amp;sa=U&amp;ved=2ahUKEwiV4or55O6EAxVhavUHHR0aAXUQFnoECAUQAg&amp;usg=AOvVaw2xSF23OXVNI8jKYQlW_vUm&amp;arm=e" dir="ltr" href="https://www.wionews.com/india-news/india-borders-troops-on-toes-against-hordes-of-drug-carrying-drones-from-pakistan-674012" target="_blank">India: Borders troops on toes against hordes of&nbsp;drug-carrying drones</a>

The apprehended boat along with its crew are being brought to Porbandar, Gujarat, for further investigation. According to the Indian agencies, this is the tenth apprehension by ICG, ATS Gujarat and NCB, in the last three years, during which they have seized 517kg narcotics worth Rs 3,135crores or $391 million.

In the intervening night of 11th and 12th March, the Indian Coast Guard (ICG) apprehended a Pakistani boat with six crew, and seized narcotics worth Rs 480 crore or approximately $60 million.

In the intervening night of 11th and 12th March, the Indian Coast Guard (ICG) apprehended a Pakistani boat with six crew, and seized narcotics worth Rs 480 crore or approximately $60 million. The boat was apprehended about 350 km off Porbandar, Gujarat in Western India, along the sea lane that leads to Pakistan. The operation that involved vessels and Dornier maritime patrol aircraft of the Coast Guard, is a result of the synergy between the Indian Coast Guard, Narcotics Control Bureau and Gujarat Anti-Terror Squad. Also read: 'India would have escalated situation if Abhinandan wasn't released' According to the ICG, based on intelligence input, its assets were strategically positioned in the Arabian sea on 11th March, Monday, and they had also deployed a Dornier plane to scan and locate a suspicious vessel. After an extensive search, the ICG with teams of the NCB and ATS Gujarat, spotted the suspected boat and observed that it was performing evasive manoeuvres, which ensued in ICG vessels chasing it and ICG teams boarding and examining the target vessel. The Visit-Board-Search-Seize(VBSS) operation led to the seizure of 80 kg of drugs from the Pakistani vessel with six crew members. Also read: India: Borders troops on toes against hordes of drug-carrying drones The apprehended boat along with its crew are being brought to Porbandar, Gujarat, for further investigation. According to the Indian agencies, this is the tenth apprehension by ICG, ATS Gujarat and NCB, in the last three years, during which they have seized 517kg narcotics worth Rs 3,135crores or $391 million.

Indian agencies nab Pak boat with 6 crew carrying 80kg drugs worth $60 million 

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