Explained: Why is ITC stake sale by BAT a buying opportunity?

Shares of ITC Ltd. are at an 'attractive valuation' following the sell-off caused by British American Tobacco Plc. announcement to offload stake in the cigarette maker, according to analyst tracking the stock. On Wednesday morning the scrip jumped over 8%, the highest jump since April. 2020, propelling the benchmark index, Nifty50, by 50 points.