ITC shares are seeing a jump once again. On 24 February 2021, the price of one share of ITC on NSE was Rs 208.50. Which has increased to a level of Rs 273.15 today. During the last one month, there has been a jump of 14% in the price of shares. What is the reason behind this acceleration? Let us understand, as well as know what is the opinion of the experts on this?
On the rise in ITC shares, expert Rohit Singre says, ‘The price of ITC’s share can reach the level of Rs 300. Anyone holding shares in ITC is advised to hold it. Brokerage firm Edelweiss Wealth Research has a buy recommendation on ITC shares. The brokerage firm expects ITC shares to reach the level of Rs 450 in the long term.
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Edelweiss Wealth has said in its notes that the business of hotels, paperboard and agri commodities will benefit from revival. Due to this CAGR went up to 12% in FY 2022. The ratio chart of ITC shows a strong performance in this sector. The pattern on the chart is showing ‘Bull’.