ITC stock witness super rally, hits new high after Jefferies raises target

On Sensex, ITC stock closed at Rs233.60 per piece up 1.08%. At the current market price, ITC's valuation stood at nearly Rs2.88 lakh cr.

Sep 20, 2021 04:09 IST India Infoline News Service

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FMCG-giant ITC stock witnessed a stellar buying on Monday to the point that it even touched a new all-time high. Investors were upbeat on ITC after US-based investment bank, Jefferies assigned a Buy rating on the company's stock.

On Sensex, ITC stock closed at Rs233.60 per piece up 1.08%. At the current market price, ITC's valuation stood at nearly Rs2.88 lakh cr.

Last week, on Friday's closing price, the market cap of the company stood over Rs2.82 lakh cr.

The stock has touched a new 52-week high of Rs239.40 per piece earlier today.

So far in this month, ITC stock has skyrocketed by more than 14% on Sensex.

As per the reports, Jefferies has revised its target price on ITC to Rs300 per share with an upside and downward scenario of Rs360 per share and Rs190 per share.

The target price was raised compared from previous target of Rs275 per share. 

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