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[ad_1] ITC Shares At Hit All-Time High: Shares of ITC, a Kolkata-based conglomerate with operations spanning from cigarettes to other FMCG products to hotels, hit a new high of Rs 395.15, gaining 2 per cent on the BSE in Tuesday’s intra-day trade, on expectations of strong earnings growth. ITC shares gained by Rs 6.5 — or 1.7 per cent — at the strongest level of the day to touch a record Rs 395.2 apiece on BSE, trading at the Rs 395 level for the first time ever. The stock of the cigarette maker — whose popular brands include Classic, Gold Flake, Insignia, American Club, India Kings and Wills Navy Cut — was on track to finish higher for the fourth session in a row. ITC surpassed its previous high of Rs 394, touched on February 3, 2023. On Monday, ITC saw huge trading volumes, with around 2.74 million shares and 95 per cent of total traded quantity on the BSE was converted into delivery, the exchange data shows. ITC’s market capitalisation (market-cap) now inches towards Rs 5 trill

[ad_1] Multibagger Stock: Shares of the FMCG giant ITC hit a new high of Rs 401.70, gaining 1.6 per cent on the BSE in Monday’s intra-day trade in an otherwise weak market amid sustained buying interest by foreign portfolio investors (FPIs). ITC share price today touched an intraday high of Rs 401.7 per share. Earlier, on Thursday, ITC stock had ended at Rs 396. ITC share price has gained over 20% year-to-date, after drawing criticisms and significant trolling from investors over the years. “ITC Ltd.’s share price has reached a new all-time high, crossing the Rs 400 mark and gaining over 20% since the start of this year. This surge in share price reflects the positive sentiment among investors, likely driven by the company’s strong financial performance, growing demand for FMCG products in India, and favorable macroeconomic conditions," said CA Manish Mishra, Virtual CFO The fast-moving consumer goods (FMCG) and cigarette maker has doubled or zoomed 101 per cent from a level

[ad_1] Jefferies has raised its target price for ITC to Rs 530 from Rs 520, indicating a 19 per cent upside from current levels. The upgrade comes on the back of ITC considering an alternate structure for the hotel business. Shares of the cigarettes-to-hotels conglomerate rose over 1 per cent on Wednesday. “ITC Hotels is the second largest listed chain which has been focusing on an ‘asset-right’ strategy. We apply 18x EV/Ebitda multiple pegging at a discount to our fair value for the leader, Indian Hotels at 23x. Accordingly, we raise ITC’s target price," said Jefferies in a report dated June 27. The hotel business has contributed less than 5 per cent to ITC’s revenues and EBIT over the last decade. Meanwhile, it has accounted for over 20 per cent of ITC’s capex in the past. Investors have always been concerned as this guzzling of cash has not generated good returns. The hotel business’ RoCE (return on capital employed) has also been in single digits for most years. The hotel