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ITC Share Price: For the last one month, the stock market is witnessing a decline. In the market of Adani group, from listed companies to banking, many other sectors are witnessing a decline. But there is such a giant company of the market which has not disappointed the investors despite the bad mood of the market. The name of that company is ITC, from cigarettes to FMCG, hotels and IT sector company.
17 percent return in 2023
ITC’s stock has reached lifetime high in the trading session on Thursday. ITC’s stock reached its high of Rs 394 and closed at Rs 387.60 with a gain of 1 per cent at market close. But the biggest thing is that ITC’s stock has given 16% return to the investors in a month. ITC’s stock closed at Rs 332 on the last trading day of 2022. But in 2023, the stock has given a return of 17 per cent to the investors. In the last six months, ITC stock has given a return of 23 per cent and in one year 80 per cent.
Quarterly results were excellent
Many brokerages are bullish on ITC stock these days. Between October and December, the third quarter of the current financial year, there has been a jump of 21 per cent in the profit of the company and it has been Rs 5031 crore. The revenue from operation has been Rs 17,265 crore. There is another special reason for the rise in ITC’s stock and buying by investors. 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. Last year itself, the company’s chairman and MD Sanjeev Puri had indicated this in the AGM. 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 is in many businesses
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. So the company is also in FMCG business. Apart from this, ITC is also in the IT sector, along with Agri Business, Paperboard Business.
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