ITC plummets despite plan to foray into vegetables segment

India Infoline News Service | Mumbai | September 13, 2017 10:46 IST

Benchmark heavyweight stock, ITC tanked on Wednesday’s intraday trade.

Benchmark heavyweight stock, ITC tanked on Wednesday’s intraday trade at 1.50% at Rs 273.40 per share on BSE at 1025 hours.
 
The stock on Tuesday’s trade rallied higher showcasing bullish sentiments dominated the stock price on bourses.
 
The stock witnessed a dip despite reports that the company may foray into vegetables domain by creating a new brand. The company is also planning to launch fruit pulps and juices in order to become top food company in India, according to a leading news daily.
 
The stock touched its intraday high of Rs 277.65 per share and a low of Rs 272.80 per share. The stock on NSE attracted a total traded quantity of 5.11 lakh shares.
 
Meanwhile, the company has a return on equity of 26.68% for 3 years and has been maintaining a dividend payout of 60.47%.
 
The stock on yearly basis has given 8.16% returns and has underperformed BSE Sensex index and BSE FMCG index.
BSE 270.35 3.15 (1.18%)

***Note: This is a NSE Chart

Disclaimer: The contents herein is specifically prepared by ‘Dalal Street Investment Journal’, and is for your information & personal consumption only. India Infoline Limited or Dalal Street Investment Journal do not guarantee the accuracy, correctness, completeness or reliability of information contained herein and shall not be held responsible.

 

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