ITC's stock price up by more than 60% year-to-date in 2022

3 Nov 2022 , 09:44 AM

In the course of Wednesday’s intraday trade, ITC shares rose 2% on the BSE to reach a record high of Rs362.20 in an otherwise quiet market. Following the company’s strong performance in the July-September quarter for the 2022—23 fiscal year, the stock of the tobacco industry giant has eclipsed its previous high of Rs 354, which it had reached on October 21, 2022. (Q2FY23). The S&P BSE Sensex, in contrast, was down 0.4% at 60,877 points at 12:49 PM.

ITC has increased 63% so far in calendar year 2022, compared to the Sensex’s rise of 2.8%. Most brokerages have advised investors to “buy” or “accumulate” shares of ITC with target prices between Rs365 and Rs405 according to their recommendations.

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