ITC’s Market Valuation Rebounds To ₹4 Lakh Crore After 5 Years
The company’s market capitalization last surpassed Rs 4 trillion on July 14, 2017, when it reached Rs 4.10 trillion on a closing level basis.
Imperial Tobacco Company of India Limited (ITC), India’s largest cigarette manufacturer and second-largest fast-moving consumer goods (FMCG) business, recovered a market capitalization of Rs 4 trillion on Friday as the stock’s climb on the bourses continued.
The share price of ITC has touched a five-year high of Rs 323.15 in intraday trade today, rising 1.75 percent on the BSE amid expectations of robust earnings growth. The stock has increased by 50 percent in the last six months, compared to a 6 percent increase in the S&P BSE Sensex. The company has gained 47 percent so far in the calendar year 2022 compared to a 0.54 percent loss in the benchmark index.
According to BSE, ITC’s market valuation reached Rs 4.01 trillion at 2:17 pm before the market closed. The stock was up 1.75 percent at Rs 323.15, while the Sensex was up 0.06 percent. The counter experienced a surge in activity with average trading volumes more than tripling when compared to the previous 10-day volume. At the time of writing, a total of 21.23 million equity shares had traded on the NSE and BSE.
However, the company’s market capitalization last surpassed Rs 4 trillion on July 14, 2017, when it reached Rs 4.10 trillion on a closing level basis. ITC declared a record high market valuation of Rs 4.16 trillion on 3 July 2017. On the same day, the stock reached an all-time high of Rs 353 per share.
