ITC gains nearly 3%, hits over two-month high in weak market

Brokerages expect strong growth for ITC's FMCG business led by price hikes, strong traction in discretionary categories (due to high mobility) & strong growth in education & stationary business.

Shares of ITC hit an over two-month high of Rs 348.80, as they gained nearly 3 per cent on the BSE in Friday’s intra-day trade in an otherwise a weak market. The stock of the diversified fast moving consumer goods (FMCG) traded at its highest level since November 14, 2022. It had hit a record high of Rs 362 on November 11.

At 10:51 AM; ITC quoted 1.5 per cent higher at Rs 344.85, as compared to 1.2 per cent decline in the S&P BSE Sensex. The average trading volumes at the counter jumped 1.5 times, with a combined