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ITC was underperforming between July 2017 and March 2020, but it has finally started to catch up and is outperforming the FMCG pack.
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The Kolkata-headquartered company's gross revenue stood at Rs. 16,971 crore representing a growth of 27.1 per cent year-on-year (YoY). EBITDA came out at Rs 5,864 crore, up by 27.1 per cent YoY.
ITC vs HUL: While HUL has clocked returns of 10 per cent, the defensive ITC stock turned the tables and delivered 52.43 per cent returns in 2022.
The stock of ITC has proved to be a dark horse this year. The FMCG share, termed as a defensive and safe bet for long, has surged 50 per cent in 2022. Shares of ITC, which closed at Rs 218 on December 31 climbed to a record high of Rs 330.55 level today, translating into a gain of 51.62 per cent during the period. Before the ongoing rally, ITC stock had been in a consolidation mode. It stood at Rs 216 on December 11, 2020. In fact, the stock closed at Rs 208 on February 24 this year, the day when Russia started military action on Ukraine, leading to a carnage in the stock markets worldwide,...