On Friday ITC went past Hindustan Unilever to become the country's fourth most valued firm in terms of market valuation helped by a smart surge in its share price.
At the close trade, ITC shares finished 5.24 percent higher at Rs 302.20 on BSE. Intra-day, it zoomed 6.91 percent to Rs 307 — its 52-week high.
The stock was the top gainer among the 30-Sensex blue chips.
Driven by the sharp rally in the stock, the organization's market valuation saw a rise to Rs 3.69 trillion, which was Rs 104.60 billion more than that of HUL's Rs 3.58 trillion m-top on BSE.
ITC became the most valued FMCG company with this.
The shares of HUL ended 0.64 per cent lower at Rs 1,657.55 on BSE. It slipped 1.51 per cent to Rs 1,643 during the day.
The shares of ITC have been noticing a great rise for the seventh straight session, surging nearly 13 percent.
Shares of ITC are seeing a great rise for the seventh straight session, surging nearly 13%. Yesterday ITC reported 10% rise in standalone net profit at Rs 2,818.68 crores for the first quarter ended 30th June, aided by lower expenses, good growth in agri-business and other FMCG business despite decline in cigarettes sales.
Our nation’s most valued firm with a market cap of Rs 7.43 trillion followed by RIL (Rs 7.15 trillion), HDFC Bank (Rs 5.82 trillion), is TCS. ITC and HUL are in the top five orders on BSE.
Rise in ITC was also instrumental in sending the BSE benchmark index higher by 352.21 points to close at 37,336.85.
ITC Limited is an Indian company which deals in 5 segments- FMGC Products, Hotels, Paperboards and Packaging, Agri Businesss and Information Technology. However, it is majorly a cigareete comapany which yields about 80% of te total profit of the company while the rest 20% comes from non-tobacco segments.
The company was established in 1910 as the Imperial Tobacco Company of India Ltd. which changed its name to ITC Ltd. in 1974. The company is a part of Forbes 2000 list.