London-based BAT has seen a sell-off in its shares in the past week, rendering its market cap below ITC to $64 billion. The stock fell sharply after the company said it would take a hit of around $31.5 billion as it wrote down the value of some US cigarette brands, acknowledging that its traditional combustible market has no long-term future.
Nifty surges 300 points as investor sentiment lifts markets. Will the rally last?
Stock markets now seem to have digested the uncertainty related to global tariff wars on hopes of lesser disruption and trade agreements by major economies.
May 23, 2025