INSUBCONTINENT EXCLUSIVE:
At 12:45, ITC shares were trading at Rs 236, greater by 2.1 per cent, on the BSEITC shares surged to fresh 52-week highs on the BSE on
Monday due to an improvement in the company's outlook
The shares of the cigarette and quick moving consumer goods significant touched an intra-day and yearly high of Rs 239.40, up 4 per cent, on
the BSE in morning trading, a level last seen on February 9
At 12:45, ITC shares were trading at Rs 236, greater by 2.1 per cent, on the BSE.After being a laggard through the year, ITC shares have
experienced a considerable rally in the current past, soaring around 10 percent within a mere 5 trading sessions
But ITC is an under-performer regardless of its current gains; the stock has acquired 10 percent this year compared to a 23 percent increase
in the benchmark Sensex.On the essential level, the GST Council meeting hung on Friday was a favorable for ITC as the council did not make
changes in the cess rates on tobacco
And according to technical experts, ITC has actually provided a break-out on the charts after an extended period of consolidation
The stock has actually broken out of a long-lasting series of Rs 200-215/220 and the extreme blockage zone of Rs 218, accompanied with
substantial volumes, and thus has a substantial legroom on the benefit, technical experts reckon.The BSE Sensex was trading at 58,935.50,
lower by 79.95 points or 0.14 per cent and the NSE Nifty was at 17,529.95, down 55 points or 0.31 per cent at the time.
