1. ITC shares gain over 2% as cigarette production resumes

ITC shares gain over 2% as cigarette production resumes

ITC shares gained over 2 per cent in morning trade on Monday after it informed bourses on Sunday that cigarette factories are re-starting production in a phased manner.

By: | New Delhi | Published: May 9, 2016 10:58 AM
ITC SHARES CIGARETTE PRODUCTION FMCG major ITC shares gained over 2 per cent in morning trade on Monday after it informed bourses on Sunday that cigarette factories are re-starting production in a phased manner.

FMCG major ITC shares gained over 2 per cent in morning trade on Monday after it informed bourses on Sunday that cigarette factories are re-starting production in a phased manner.

At 10.46 am, ITC shares were trading 2.14 per cent up at Rs 324. The scrip opened at Rs 321.90 and has touched a high and low of Rs 324.65 and Rs 320.05, respecively, in trade so far. Sensex was up 340.91 points, or 1.35 per cent, at 25,569.41.

Earlier, ITC had shut its cigarette plants from May 4 to comply with new stipulated pictorial warnings rule issued by government.

In the past one month, the share price of ITC plunged 2.73 per cent to Rs 317.20 till May 6, whereas BSE Sensex gained 1.32 per cent during the same period.

Angel Broking has ‘Accumulate’ rating on ITC shares with a target price of Rs 359.

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