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ITC Share Price: Stocks of the IT sector were trading upside down on Monday in the stock market. Then
The stock of the country’s company ITC, which is present in the cigarette to FMCG, hotels and IT sector, has closed at a historical record high. ITC’s share crossed the level of Rs 400 for the first time and reached Rs 402. At the end of today’s trading, ITC closed at Rs 400.15 with a gain of 1.15 per cent.
In 2023, when huge ups and downs have been seen in the stock market. There has been a huge decline in the shares of the banking IT sector, so during this period, ITC’s stock has given a return of 21 percent during the last one and a half months. ITC stock has given 48% return in last one year, 93% in 2 years and 112% in 3 years.
In the company’s AGM in 2021, the company’s chairman Sanjeev Puri said that even after the company’s excellent operational performance and dividend payment of Rs 50,000 crore in 5 years, ITC’s stock is not rising. But in the last two years, among the stocks included in Nifty, ITC has given better returns to the investors than all the stocks.
Due to the stellar performance of ITC, many brokerage houses are extremely bullish on the stock. JP Morgan, Nomura, Jefferies, Motilal Oswal have given a target of Rs 450 to 475 for the stock. There may be good news for the shareholders of ITC in the coming days. The company is considering demerger of its hotel business business. So the company is also planning to get its IT company ITC Infotech listed on the stock exchange. The company’s chairman and MD Sanjeev Puri has indicated this. He said that now he is going to take this plan forward. The industry is back on track, so we are seriously considering it (demerger). And whatever is in the interest of the shareholders, that decision will be taken.
ITC has 113 hotel linked properties. There are plans to start more hotels in the next few quarters. ITC is the largest cigarette manufacturing company in the country. Apart from this, ITC is also present in IT sector, along with Agri business, Paperboard business and FMCG business.
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