Monday, 22 May 2017

ITC extends rally; scrip hits fresh 52-week high

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Shares of FMCG major ITC zoomed nearly 5 per cent, hitting 52-week high, on the Bombay stock Exchange after the finance minister-led Goods and Services Tax (GST) Council approved the GST rates for goods at nil rate, 5 per cent, 12 per cent, 18 per cent and 28 per cent to be levied on certain goods. Boosted by the development, shares of the company gained as much as 4.89 per cent to hit fresh 52-week high of Rs 299.90 apiece on the Bombay Stock Exchange.

The scrip was currently trading at Rs 298.00 against previous close price of Rs 285.90. In a similar fashion, stocks of firm were trading 4.18 per cent higher at Rs 298.15 apiece on the National Stock Exchange. Meanwhile, the broader benchmark BSE Sensex was trading at 30,625.18, up 160.26 points or 0.53 per cent, at 11:10 hour.

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