FMCG major ITC outshines benchmark indices so far in 2022; shares rise 15%

AgenciesUpdated: Wednesday, March 23, 2022, 05:37 PM IST
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The shares of the FMCG company rose 15 per cent since the start of the calendar year, while the benchmark Sensex declined nearly 3 per cent during the period./ Representative image |

Shares of FMCG major ITC have outperformed the broader market benchmark indices so far in 2022.

The shares of the FMCG company rose 15 per cent since the start of the calendar year, while the benchmark Sensex declined nearly 3 per cent during the period.

The FMCG company reported a standalone profit after tax of Rs 4,156 crore during the December quarter, up by 12.7 per cent against Rs 3,687.88 crore reported in the year-ago period, according to reports.

While releasing its earnings for the Q3FY22, the company said reduction in daily Covid cases and the ongoing vaccination drive are expected to provide a fillip to business sentiment and consumer confidence, as well as boost economic activity going forward.

On Wednesday, the shares of the FMCG major settled at Rs 251.90, up 0.9 per cent.

(With inputs from IANS)

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