ITC gains 4 percent hits 52 week high
Published On: Friday, April 8, 2022 | By: Team KnowMyStock
The stock of FMCG major ITC hit a fresh 52-week high of Rs 265.90, up 4 percent on the BSE in Friday's intra-day trade, on the expectation of healthy earnings, against the previous close of Rs 256.60 on BSE. Market cap of the firm rose to Rs 3.26 lakh crore on BSE. The stock of the cigarettes to fast-moving consumer goods (FMCG) major has rallied 24 percent in the past six weeks. For the October-December quarter (Q3FY22), ITC had reported strong all-around revenue performance led by robust recovery across markets due to a rise in mobility and an efficient distribution system. Meanwhile, Motilal Oswal has disclosed its Q4 earnings estimates for the consumer sector. It expects ITC to report a net profit of Rs 4,076.4 crore rising 8.7% year-on-year (down 1.9% quarter-on-quarter). Net sales are expected to rise 4.1 percent Y-o-Y (down 12.7 percent Q-o-Q) to Rs 13,842.1 crore, according to Motilal Oswal.
Earnings before interest, tax, depreciation and amortisation (EBITDA) are likely to rise by 12.4 percent Y-o-Y (down 1.4 percent Q-o-Q) to Rs 5,029.2 crore.
Tags: ITC 52 week high FMCG healthy earnings
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