ITC extends gain on price hike; stock up 4% in two trading sessions

The stock was up 2% to Rs 289 on Wednesday, extending its previous day's 2% gain, on reports that cigarette maker has increased the price of three brands - Bristol, Flake Excel and Capstan.

Shares of ITC were up 2 per cent to Rs 289 apiece on Wednesday, extending its previous day’s 2 per cent gain, on reports that cigarette maker has increased the price of three brands - Bristol, Flake Excel and Capstan.

The Kolkata-headquartered company has increased prices by about 7 per cent to 14 per cent. The price of Flake excel is hiked by 11 per cent, Bristol by 6.7 per cent and Capstan by 14.5 per cent by the company, the PTI report suggested.

Following the news, Morgan Stanley maintained its 'overweight' call on ITC with a target