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 ITC
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 July 23, 2014, ITC closed at Rs 352.40, up Rs 0.55, or 0.16 percent. The 52-week high of the share was Rs 386.75 and the 52-week low was Rs 285.40.
The company's trailing 12-month (TTM) EPS was at Rs 11.04 per share as per the quarter ended March 2014. The stock's price-to-earnings (P/E) ratio was 31.92. The latest book value of the company is Rs 32.99 per share. At current value, the price-to-book value of the company is 10.68.
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