ITC Shares Up Over 3% After Earnings; Market Valuation Jumps Rs 11,276 Crore

ITC's market valuation jumped by Rs 11,276.55 crore to Rs 3,39,690.55 crore on the BSE.

Shares of ITC jumped over 3 per cent on Thursday after the corporate reported an 11.60 per cent rise in consolidated internet revenue for the fourth quarter ended March.

The inventory gained 3.43 per cent to settle at Rs 275.65 on the BSE. During the day, it jumped 4.74 per cent to its 52-week excessive of Rs 279.15.

At the NSE, it went up by 3.35 per cent to finish at Rs 275.75 apiece.

The firm's market valuation jumped by Rs 11,276.55 crore to Rs 3,39,690.55 crore on the BSE.

In quantity phrases, 23.54 lakh shares had been traded on the BSE and over 7.82 crore shares on the NSE in the course of the day.

The surge within the counter assumes significance because the broader market was within the destructive territory mirroring weak developments in international equities.

The BSE benchmark index Sensex tumbled 1,416.30 factors or 2.61 per cent to settle at 52,792.23.

ITC Ltd on Wednesday reported an 11.60 per cent rise in its consolidated internet revenue at Rs 4,259.68 crore for the fourth quarter ended March 2023, pushed by all-round development throughout verticals.

The firm had posted a internet revenue of Rs 3,816.84 crore in the course of the March quarter of the earlier fiscal, ITC stated in a regulatory submitting.

Consolidated income from operations was up 15.25 per cent at Rs 17,754.02 crore in the course of the quarter beneath review, as in comparison with Rs 15,404.37 crore within the corresponding interval of the earlier fiscal.

ITC's complete bills had been at Rs 12,632.29 crore, up 15.41 per cent in This fall/FY 2021-22, as towards Rs 10,944.64 crore within the year-ago interval.

During the quarter, the cigarette phase clocked a income of Rs 7,177.01 crore, up from Rs 6,508.43 crore within the year-ago interval.