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ITC share price: The stock is the best-performing Nifty stock in the last one year, gaining 60 per cent. The stock has surged 105 per cent in the last two years. ITC disclosed its March quarter earnings on May 18, reporting healthy growth in cigarette volume.
The state-run PSU's acquisition of a controlling stake in Numaligarh Refinery (NRL) and the hope of an increase in oil production have resulted in a revision in its earning estimates, say analysts, some of whom see the stock almost doubling.
Most analysts increased their earnings estimates for the company and raised price targets for the stock after the June quarter earnings, maintaining their overweight stance.