New Delhi:- There has been huge volatility in the Indian stock markets for a long time. Many legendary stocks are trading at their lower levels. But the stock ITC, which is always in discussion in social media, remains a speed horse at this time. The shares of ITC have been climbing continuously for some time and have reached a 3-year high on Monday. Today on Monday, ITC shares are trading above Rs 290 with a gain of more than 2.50 per cent.
Where the Sensex has fallen 11 per cent, then this stock has gained more than 32 per cent. ITC is one such stock which has its business in multiple sectors like FMCG, Hotels, Packaging, Paperboard, Specialty Paper and Agribusiness. The shares of ITC have been climbing continuously. The hotel business reported revenue of ₹389.6 crore during the quarter, a 35.3 per cent increase over a year ago.
The brokerage had said that after the second Covid wave, demand is reaching pre-pandemic levels. Also the brokerage had said that the demand remains strong. Motilal Oswal, in his note on ITC stock, said better-than-expected demand recovery, a healthy margin outlook in cigarettes, a pick-up in FMCG business and a sharp recovery from the hotel business are making it attractive.