ITC Shares Rises After Long Time: 


ITC Ltd Shares continued in the uptrend market with the stock rises to a 3-year high in Monday’s early morning market open as it was up over 2 per cent to Rs 290 on the BSE, its price is highest since 2019. 

The ITC stock price gained 30 per cent so far in 2022 to its highest price level this year as against the 9 per cent down in the benchmark Sensex market, emerging as one of the top gainers among the bluechips stocks in a period that has seen market values of several good companies erode amid shrinking stock investor appetite to risky assets. 

The stocks of the fast-moving consumer goods (FMCG) companies was trading at its highest price level since May 2019 price, and has surged 7% in past two trading days in stock market.

Financials

January-March 2022 quarter result (Q4-FY22), ITC had reported strong profitable results, with around 9% cigarette volume growth in market. The cigarette segment recovered with volumes surpassing pre-pandemic growth levels on the back of progressive normalization of economic activity and concerted actions to reinforce current market standing through strategic portfolio interventions and enhancing product availability backed by the superior on-ground execution.

What Should Investors Do right now?

Stock Analysts said that Bingo chips and Gold Flake cigarettes makers are becoming a big draw among market investors as it is less impacted by the input cost inflation, has a high dividend yield, growing consumer business and recovering hotels business along with strong growth prospects in the cigarettes business market, which is its mainstay.