New Delhi: ITC on Friday went past Hindustan Unilever to become the country’s fourth most valued firm in terms of market valuation helped by a smart surge in its share price.
At close of trade, ITC shares ended 5.24% higher at ₹302.20 on BSE. Intra-day, it zoomed 6.91% to ₹307 — its 52-week high. The stock was the top gainer among the 30-Sensex blue chips.
ITC becomes India’s 4th most valued firm in m-cap
Led by the sharp rally in the stock, the company’s market valuation rose to ₹3,69,259.15 crore, which was ₹10,460.27 crore more than that of HUL’s ₹3,58,798.88 crore m-cap on BSE. With this, ITC also became the most valued FMCG company.
HUL shares ended 0.64% lower at ₹1,657.55 on BSE. During the day, it slipped 1.51% to ₹1,643.
Shares of ITC have been on a rising spree for the seventh straight session, surging nearly 13%. ITC yesterday reported 10% rise in standalone net profit at₹2,818.68 crore for the first quarter ended 30 June, aided by lower expenses, good growth in agri-business and other FMCG business despite decline in cigarettes sales.
TCS is the country’s most valued firm with a market cap of ₹7,43,930.44 crore followed by RIL (₹7,15,772.03 crore), HDFC Bank (₹5,82,044.68 crore), ITC and HUL in the top five order on BSE.
Rise in ITC was also instrumental in sending the BSE benchmark index higher by 352.21 points to close at 37,336.85.