ITC jumps 6% to scale new lifetime high ahead of Q3FY23 results

Shares of ITC rallied 6 per cent to hit a new lifetime high level of Rs 384.40 in Thursday’s intra-day trade, as brokerages believe that the proposed tax hike on cigarette in the Union Budget 2023 is not very high and would be easily passed on through small price increases.

The stock of diversified fast moving consumer goods (FMCG) major zoomed 17 per cent from its Wednesday’s low of Rs 329.

At 11:06 am; ITC quoted 5.4 per cent higher at Rs 381.10, as compared to 0.04 per cent decline in the S&P BSE Sensex. The counter saw