Great Jump in ITC Share Price

ITC Share Price has performed so well in the year 2022 that it has shown tremendous growth of 32 per cent this year and has jumped more than 10 per cent in the last 6 days. Fast Moving Consumer Goods (FMCG) giant ITC's stock is climbing with a steady jump. This stock has seen good growth in the year 2022 and in the last 6 days, the stock has seen a rise of 10 per cent. Talking about yesterday's business, the share of ITC has come down to Rs 293, which is its highest level since the year 2019.

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 on social media, remains a speed horse at this time. The shares of ITC have been climbing continuously for some time and reached a 3-year high on Monday.

How is The Trade Going on in ITC?

ITC Shares were trading on the BSE Sensex with a jump of 2 per cent yesterday and made a 3-year high of Rs 293. ITC's stock has performed so well in the year 2022 after a slow pace over the last several years that it has shown tremendous growth of 32 per cent this year, while the benchmark index Sensex has shown a fall of 11 per cent so far this year.

Profit Increased This Year

ITC is one such stock that has its business in multiple sectors like FMCG, Hotels, Packaging, Paperboard, Specialty Paper, and Agribusiness. The FMCG major reported a 12% increase in net profit to ₹4,195 crores for the January-March period as against ₹3,755 crores a year ago. The Kolkata-based company's revenue grew 15% to Rs 17,754 crore as against Rs 15,404 crore in the previous year period.

Why is The Stock Rising?

There are some mixed reasons behind the rise in ITC shares. This is also one of the reasons for the good results of this company in the January-March quarter and in this, the company's net profit had come down to Rs 4195 crore with a growth of 12 per cent. Whereas in the January-March quarter of last year, its net profit was Rs 3755 crore. At the same time, the company's revenue increased by 15 per cent to Rs 17754 crore in the same quarter, which came to Rs 15,404 crore in the same quarter last year.