ITC shares hit 52-week high, m-cap crosses Rs 4 lakh crore

The shares of cigarettes-to-hotels major ITC on Friday rallied 2.1 per cent to hit a fresh 52-week high at Rs 324.20. The stock has also crossed the market cap of Rs 4 lakh crore.

At the end of the session, the scrip closed 1.72 per cent higher at Rs 323. The stock has surged 53.54 per cent in the past year and has advanced 47.58 per cent so far in 2022.


Having rallied over 47 per cent year-to-date (YTD), ITC has been among the top performing Nifty stocks. However, during the market rally in 2020 and 2021, it was among the top underperformers stocks and was ridiculed on social media.

While the highest target for ITC goes up to Rs 390, according to Trendlyne data, the average estimate of Rs 347 shows an upside potential of around 8.2 per cent from current prices.

Out of the 32 analysts covering the stock, none of them have a sell rating while 21 have a strong buy rating.

For the quarter ended June 30 2022, the company reported consolidated sales of Rs 19,831.27 crore, up 39.29 per cent from the year-ago quarter's Rs 14,240.76 crore. The company reported a net profit of Rs 4,462.25 crore for the latest quarter