ITC may test Rs 420, says Yogesh Mehta

Yogesh Mehta of Motilal Oswal Securities told CNBC-TV18, "On the technical front Rs 378 was a strong support in ITC and it has already broken out of that. One can look at a price target of Rs 420 keeping a stop loss of Rs 378."

At 15:13 hrs ITC was quoting at Rs 400, up Rs 4.15, or 1.05 percent. It has touched an intraday high of Rs 400 and an intraday low of Rs 393.45.