Shares of FMCG major ITC surged 4% to a day’s high of Rs 490 on the BSE on Friday, following the company’s announcement of a nearly 16% increase in revenue to Rs 22,282 crore for the quarter ended September 2024. While net profit rose marginally to Rs 4,993 crore—up 2%—it fell short of Street estimates of Rs 5,079 crore. However, revenue exceeded expectations of Rs 18,068 crore.
Abhijeet Bora’s top 10 Diwali stock picks from large, mid, and small caps
Last few years if you see the rally was supported by both earnings growth as well as the expansion in the PE ratio for the