ITC gains 4% to hit 52-week high; stocks surges 24% in 6 weeks

For Q4FY22, Motilal Oswal Financial Services expects ITC to post a 4 per cent growth in Cigarette business volumes with a 4.1 per cent/12.4 per cent YoY increase in sales/EBITDA

Shares of ITC hit a fresh 52-week high of Rs 265.90, up 4 per cent on the BSE in Friday's intra-day trade, on expectation of healthy earnings. They surpassed their previous high of Rs 265.30, touched on October 18, 2021.

The stock of the cigarettes to fast moving consumer goods (FMCG) major has rallied 24 per cent in the past six weeks. Moreover, it had hit a record high of Rs 353 on July 3, 2017.

ITC is the biggest cigarettes and the second largest FMCG company in India with around 78 per cent market share in cigarettes