ITC still flavour of the market post strong Q1 performance
Cigarettes to hotels major ITC remains a favourite with most analysts after its better-than-expected first quarter numbers. This is unlike other FMCG majors like Hindustan Unilever and Colgate, which have drawn mixed responses after their June quarter numbers.
August 01, 2011 / 08:31 IST
Moneycontrol Bureau
Cigarettes to hotels major ITC remains a favourite with most analysts after its better-than-expected first quarter numbers. This is unlike other FMCG majors like Hindustan Unilever and Colgate, which have drawn mixed responses after their June quarter numbers.ITC shares have been among the top performing frontline stocks so far this calendar, rising around 20%. This is way ahead of the 11% gain in the BSE FMCG index, and an equivalent decline in the broad-based BSE Sensex.The stock closed up 1.1% at Rs 208.30 on Friday.The market remains bullish on the stock, given that all of its segments are showing strong growth. While the cigarettes business continues to remain on a robust growth path, its non-cigarette FMCG business is fast trimming its losses. Other segments like paperboards & packaging and agri business too did well during April-June.ITC
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