ITC’s stock price down by more than 2% today

7 Feb 2023 , 02:59 PM

ITC’s stock price is down by 2.46%, by 2:51 p.m. By this time, it was trading at Rs 373.95 per share. The company’s current 52-week high price is Rs 388.20 per share. The company’s stock price went up in the past few days after it announced its December quarter result. In the past 5 days, ITC’s stock price has gone up by more than 6%. Many investors and traders are taking advantage of this price rise by selling their shares of the company, in order to book profits.

ITC’s profit in the December quarter stood at Rs 5,023 crore. This was a year-on-year increase of 21% in its profit. ITC is a diversified company. It has cigarettes, FMCG products, hotels etc. in its product portfolio. The company’s stock is currently trading at a P/E ratio of 26.76. Given its strong fundamentals , its P/E ratio is less than that of the stocks of many other companies.