ITC gains on bargain hunting

ITC rose 1.74% to Rs 315 at 11:51 IST on BSE on bargain hunting after the stock fell 5.49% in the preceding five trading sessions to Rs 309.60 yesterday 7 January 2016, from a recent high of Rs 327.60 on 31 December 2015.

Meanwhile, the BSE Sensex was up 86.45 points, or 0.35%, to 24,938.28.

On BSE, so far 97,000 shares were traded in the counter, compared with an average volume of 3.11 lakh shares in the past one quarter. The stock hit a high of Rs 315.40 and a low of Rs 309.30 so far during the day. The stock hit a record high of Rs 409.70 on 28 February 2015. The stock hit a 52-week low of Rs 294.50 on 15 June 2015. The stock had outperformed the market over the past one month till 7 January 2016, sliding 1.26% compared with 2.66% decline in the Sensex. The scrip had, however, underperformed the market in past one quarter, falling 10.60% as against Sensex's 8.08% fall.

The large-cap company has an equity capital of Rs 803.67 crore. Face value per share is Re 1.

ITC's net profit rose 0.3% to Rs 2431.25 crore on 1.4% decline in net sales to Rs 8804.70 crore in Q2 September 2015 over Q2 September 2014.

ITC is a diversified company, with 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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