ITC advances 4%, hits over 3-month high; stock surges 30% in one month

The stock was up 4% at Rs 206 on the BSE, and was trading at its highest level since February 25, 2020

Shares of ITC hit an over three-month high of Rs 206 on the BSE, up 4 per cent on Tuesday in the intra-day trade. The company recently acquired Kolkata-based Sunrise Foods, a packaged spice maker with strong presence in East India.

In the past one month, the stock of fast moving consumer goods (FMCG) company has rallied 30 per cent, as compared to 10 per cent rise in the S&P BSE Sensex. The stock was trading at its highest level since February 25, 2020.

On May 24, ITC announced that it had entered into an agreement with the spice major Sunrise Foods