ITC nears two-year high, up 11% in four days; can hit Rs 300, charts say

Analysts believe ITC's cigarettes business will fully recover amid aggressive vaccination drive and reduction in Covid-19 cases

Shares of ITC hit a fresh 52-week high of Rs 258, up 3.5 per cent on the BSE in Thursday’s intra-day trade on the back of heavy volumes. The stock has rallied 11 per cent in the past four trading days, on expectations of an improvement in the company’s businesses. Most of the brokerage houses are bullish on ITC as they believe the company’s cigarette business will fully recover with the aggressive vaccination drive and reduction in Covid-19 cases.

The stock of the biggest cigarette and second largest fast moving consumer goods (FMCG) company hit a 23-month high on