ITC, a diversified fast-moving consumer goods (FMCG) company, saw its stock achieve a new 47-month high on Monday, rising 1.5% on the BSE during substantial trading volume in an otherwise sluggish market.
Since September 3, 2018, the stock was trading at its highest level. On July 3, 2017, ITC reached a record high of Rs 353.
ITC outpaced the market over the past week, rising 3% compared to the benchmark Sensex's drop of around 1%. Additionally, over the past month, it increased by 5% in accordance with the market.
In contrast to the S&P BSE Sensex's 0.95 percent loss at 10:34 am, ITC was trading 1.3% higher at Rs316.25. The counter's trading volumes on both exchanges, at 5.2 million shares, exceeded the average volumes seen over the previous two weeks on the BSE.
Better-than-expected sales growth momentum was recorded by ITC for the quarter that ended in June 2022 (Q1FY23). With growth across all segments, the company reported a 38% year-over-year (YoY) increase in its consolidated net profit, which totaled Rs 4,169 crore. With net sales of Rs18,164 crore, up 41% year over year (YoY), they well exceeded forecasts. Operating margins were constant at 30.8%. The corporation credited a "strong" performance across segments for the results.
Related Tags
IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000
IIFL Securities Support WhatsApp Number
+91 9892691696
www.indiainfoline.com is part of the IIFL Group, a leading financial services player and a diversified NBFC. The site provides comprehensive and real time information on Indian corporates, sectors, financial markets and economy. On the site we feature industry and political leaders, entrepreneurs, and trend setters. The research, personal finance and market tutorial sections are widely followed by students, academia, corporates and investors among others.
Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.