Shares in ITC gain 0.9 percent to Rs 300, not far off a record high of Rs 306.50 hit on December 12, 2012, as investors see previous fears of a potential duty on cigarettes as having dragged down the stock excessively.
Shares in the cigarette maker fell 11.7 percent in December on fears of tougher regulations on tobacco products.
Buying in defensive stocks this week on nervousness ahead of the RBI policy review on Tuesday also seen helping.
ITC shares have risen 3.5 percent this week, as of Thursday's close compared with a fall of 0.6 percent in the Sensex.
ITC last week beat estimates with a 21 percent rise in quarterly profit as cigarette volumes improved after four quarters of stagnant growth.
ITC stock price
On November 27, 2015, ITC closed at Rs 343.95, up Rs 1.35, or 0.39 percent. The 52-week high of the share was Rs 409.70 and the 52-week low was Rs 294.50.
The company's trailing 12-month (TTM) EPS was at Rs 12.07 per share as per the quarter ended September 2015. The stock's price-to-earnings (P/E) ratio was 28.5. The latest book value of the company is Rs 38.20 per share. At current value, the price-to-book value of the company is 9.00.
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Dont see mkt going anywhere now; like Bharat Forge: Dipen