Amid a sharp fall in the stock market, the shares of FMCG sector major ITC Ltd. have seen a good rise. This stock has touched a record high price of one year. The stock has gained about 4 percent today and has reached a 52-week high of Rs 279 per share. At the same time, the low price of the 52-week stock was Rs 200.90.
During one year, this stock has given strong returns to the investors. A year ago i.e. on May 19, 2021, the company’s stock was at the level of Rs 200.90 on BSE. On the BSE, on May 19, 2022, it has reached the level of Rs 279.25. During this period, it has given 33.21 percent return to the investors.
At the same time, this stock has given a return of 6.24 percent during one month. Six months back, this stock has given 19.42 per cent return to the investors. Apart from this, it has given a return of 25.86 percent since January 2022. Whereas five days ago it has given a return of about 7 percent and in one day it has given a return of 3.5 percent.
how much profit
The company’s March quarter expenses of the bingo chips and gold flake cigarettes rose 15.7% to Rs 11,658.05 crore from a year ago. While earnings before interest, tax, EBITA grew by 16.8%. The stock has registered a growth of 11.8% in profit during the March quarter. The company’s profit increased to Rs 4,190.96 crore from Rs 3,748.42 crore a year ago. Revenue from operations grew by 16% to Rs 16,426 crore from Rs 14,156.98 crore during the period.
what investors should do
Brokerage house Jefferies has advised investors to invest in ITC. It is said that it can go for Rs 305. The brokerage said that the company’s margins have improved in the March quarter, which has indicated better than the cigarette and FMCG business. Cigarette volumes have seen strong growth of 9 per cent and double digit EBIT growth. Let us inform that the EBIT growth in FMCG has been more than 20 percent.