ITC scales record high

ITC rose 0.72% to Rs 392.35 at 10:37 IST on BSE, with the stock extending recent gains triggered by the company purchasing two leading FMCG product brands from Johnson & Johnson.

Meanwhile, the S&P BSE Sensex was up 172.59 points or 0.59% at 29,308.86

On BSE, so far 4.42 lakh shares were traded in the counter as against average daily volume of 4.71 lakh shares in the past one quarter.

The stock was volatile. The stock hit a record high of Rs 401.90 in intraday trade today, 18 February 2015. The stock hit low of Rs 385.50 so far during the day. The stock had hit a 52-week low of Rs 311.10 on 20 February 2014.

The stock had outperformed the market over the past one month till 16 February 2015, surging 8.42% compared with Sensex's 3.61% rise. The scrip also outperformed the market in past one quarter, rising 5.8% as against Sensex's 3.88% rise.

The large-cap company has equity capital of Rs 799.99 crore. Face value per share is Re 1.

Shares of ITC have gained 5.86% in three trading sessions from a recent low of Rs 370.60 on Thursday, 12 February 2015. The gains were triggered by ITC entering into Asset Purchase Agreements (Agreements) with Johnson & Johnson, India & Johnson & Johnson Pte., Singapore on 12 February 2015, for purchase of 'Savlon' and 'Shower To Shower' trademarks and other intellectual property, respectively, primarily for use in India. These Agreements are subject to customary closing conditions and regulatory permissions as may be necessary, ITC said. The announcement was made before market hours on Friday, 13 February 2015.

ITC reported 10.5% rise in net profit to Rs 2635 crore on 2.1% rise in net sales to Rs 8800.22 crore in Q3 December 2014 over Q3 December 2013.

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.

Powered by Capital Market - Live News