ITC share prices reach record high of Rs 394 amid volatile markets, gain 16% in a month

Shares of ITC Limited on Thursday surged to trade at all-time high by rallying over 3 per cent at Rs 393.9 on the BSE. In the last month, we have gained over 16 per cent in comparison to the 2 per cent fall in the BSE Sensex. The indices were in the positive throughout the month on the back of healthy earnings in the third quarter of this financial year.

ITC was underperforming between July 2017 and March 2020, but it has finally started to catch up and is outperforming the FMCG pack.

ITC earnings

ITC saw a strong quarter, with the cigarette business growing by 18 per cent year-on-year and a 21 per cent jump in standalone net profit at Rs 5,031 crore for the quarter ending in December. The revenue also went up to Rs 17,265 from an earlier Rs 16,159 that it reported for the same time period in the last fiscal.

The company said in its earnings statement that it has sustained growth across all operating segments with a focus on accelerated digital adoption, execution excellence, and customer centricity.

ITC Dividend

The company announced a dividend of Rs 6 per share with a record date of February 15. The dividend will be paid between March 3 and March 5.