India's ITC Hotels falls after British American Tobacco plans stake sale

ITC Hotels ITCT.NS shares fall 1% to 205.74 rupees as British American Tobacco BATS.L plans stake sale

BAT, the second-biggest shareholder, to offload between 7% and its entire 15.3% stake worth up to $776 mln, according to a Reuters calculation, via accelerated bookbuild

Block deal shows 187.5 mln shares traded worth 38.56 bln rupees ($429 mln) - exchange data

BATS inherited stake through shareholding in ITC ITC.NS, which spun off its hotels business in January

In May, BATS sold 2.5% stake worth $1.5 bln in ITC

Seven analysts rate ITCT "buy" on avg; median PT 266 rupees - data compiled by LSEG

Since Jan 31 listing, ITCT up about 26%

($1 = 89.8540 Indian rupees)