ITC drops after a block deal

ITC lost 0.44% to Rs 314 at 14:08 IST on BSE after a block deal of 3.62 lakh shares was executed in the counter on BSE at Rs 313 per share at 13:53 IST.

Meanwhile, the S&P BSE Sensex was down 47.76 points or 0.23% at 20,840.57.

On BSE, so far 7.78 lakh shares were traded in the counter as against average daily volume of 4.78 lakh shares in the past one quarter.

The stock hit a high of Rs 315.50 and a low of Rs 311 so far during the day. The stock had hit a 52-week low of Rs 272.20 on 11 January 2013. The stock had hit a record high of Rs 380 on 24 July 2013.

The stock had underperformed the market over the past one month till 2 January 2014, sliding 1.85% compared with the Sensex's 0.05% fall. The scrip had also underperformed the market in past one quarter, declining 8.02% as against Sensex's 7.03% rise.

The large-cap company has equity capital of Rs 793.55 crore. Face value per share is Re 1.

ITC's net profit rose 21.5% to Rs 2230.53 crore on 8.8% growth in net sales to Rs 7775.79 crore in Q2 September 2013 over Q2 September 2012.

ITC has a diversified presence in cigarettes, hotels, paperboards & specialty papers, packaging, agri-business, packaged foods & confectionery, information technology, branded apparel, personal care, stationery and other FMCG products. ITC is a market leader in cigarettes.

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