Thursday, 2 February 2017

ITC hits 52-week high on budge announcement

Shares of ITC, a multi-business conglomerate, jumped nearly 4 per cent, hitting 52-week high, on the Bombay Stock Exchange as investors increased bet on stock after FM announced lower than expected hike in excise duty on cigarettes in Budget. Extending previous session rally, shares of cigarettes maker gained as much as 3.78 per cent to hit 52-week high in intra-day trade to Rs 279.90 apiece on Bombay Stock Exchange. 

In a similar fashion, stocks of firm advanced 0.41 per cent to Rs 270.80 apiece on the National Stock Exchange. Meanwhile, the broader benchmark BSE Sensex was trading at 28,090.39, down 51.25 points, or 0.18 per cent.

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