The Stock Of This Big Company In The FMCG Sector Remained At A 52-week High, And The Market Cap Crossed 4 Trillion
Now the question in the mind of investors is that in 1 year 55 percent returns and in 3 months about 20 percent returns have been received.
The stock of ITC Shares, a major FMCG sector company in the country, has achieved a new 52-week high. Let us tell you that this time the overall market sentiment was going negative. After 5 years, the market cap of ITC company has crossed $ 4 trillion. This year, this stock has increased by about 55 percent. Shares of ITC closed at Rs 323.15 with a high of Rs 324.25 on NNE till closing on Friday. It saw an increase of 1.75 percent.
55% return in a year
Now the question in the mind of investors is that in 1 year 55 percent returns and in 3 months about 20 percent returns have been received. In the first quarter of the financial year 2022-23, the company has shown a jump of 33.97 percent in its consolidated net profit. The company's consolidated net profit for the quarter stood at Rs 4,389.76 crore. In the same quarter of 2021, it was Rs 3,276.48 crore. This time it has increased from Rs 14,240.76 crore in the same quarter of 2021 last year to Rs 19,831.27 crore, which is 39 percent more.
19.5 percent of earnings from FMCG
In the first quarter, the company generated 29 percent year-on-year revenue in cigarettes. The same FMCG business has earned 19.5 percent more. There has been a jump of 332.8 percent in the hotel revenue on a yearly basis and 43.2 percent in the earnings from the paper segment.
What are the experts' opinions?
Let us tell you that financial analysts say that ITC company has performed brilliantly amidst inflation rate and many types of crises. In this festive season, it is expected that the company will make good profits. People are recommending buying it for the target of Rs 352.
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