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ITC shares vs HUL shares: ITC shares hit an all-time high of Rs 405.5 in early trade today against the previous close of Rs 400.30 on BSE. HUL shares have gained after three days of fall. At 12:17 pm, the stock was trading 0.16% higher at Rs 2497.
ITC Ltd, the cigarette-to-hotels conglomerate, has now become the seventh-largest Indian company in terms of market capitalisation, overtaking housing finance major HDFC. ITC's market cap touched Rs 5.05 trillion as the stock hit a 52-week intraday high of Rs 407.60. The recent growth is due to various factors such as ITC benefitting from stable commodity prices, a favourable tax regime, and rising consumer demand. Brokerages Motilal Oswal and HDFC Securities Institutional Research Desk have maintained a 'buy' and 'add' rating respectively., Markets News, Times Now
ITC’s market capitalisation (market-cap) is now seen inching towards the Rs 5 trillion mark after a sharp upward movement in the stock
For Wednesday, Ganesh Dongre, Senior Manager - Technical Research at Anand Rathi expects Nifty to find support at 17300/17350 with resistance between 18050/18100. While the Bank Nifty index is seen to have support in the range of 40300/40500 with resistance at 41500/41600.
Shares of FMCG major ITC will remain unaffected from the amendment to the GST Compensation Cess Schedule passed by the Lok Sabha late last week, said JM Financial in its report. The schedule has been seen as a prelude to a possible government action on cigarette taxation, which has been fairly steady and reasonable over the last few years.