Published on 13/07/2017 12:46:32 PM | Source: Dion Global Solutions Ltd.

ITC extends rally; scrip up 3%

Posted in Stock On The Move| #ITC Ltd #Stock On The Move

Shares of FMCG major ITC continued gaining streak and soared over 3 per cent on the Bombay stock Exchange as investors widened bet on this company after the government successfully implemented the goods and services tax (GST) on July 1. According to data available with exchange, the scrip of the company rallied 20 per cent in past two months after the government unveiled plan to roll-out long pending new tax regime.

Extending previous session rally, shares of the company gained as much as 3.07 per cent to hit intra-day high of Rs 338.80 apiece on the Bombay Stock Exchange. The stocks were currently trading at Rs 338.20 against previous close price of Rs 328.70. In a similar fashion, shares of the company were trading 2.78 per cent higher at Rs 338.00 apiece on the National Stock Exchange. Meanwhile, the broader benchmark BSE Sensex was trading at 32,019.69, up 214.87 points, or 0.68 per cent, at 11:50 hours.