ITC regains Rs 3-trillion market cap; stock hits 21-month high

ITC's market capitalisation returned to Rs 3 trillion-mark on Wednesday after the stock of the biggest cigarette and second largest fast moving consumer goods (FMCG) company hit a 21-month high on the bourses. The stock hit an intra-day high of Rs 244.70, up 1 per cent on the BSE today, and was trading at its highest level since December 2019.

In the past one week, ITC has outperformed the market by surging 13 per cent on expectations of an improvement in the company’s businesses. In comparison, the S&P BSE Sensex was up 0.62 per cent during the week. At