ITC Touches Fresh 52-W High M-Cap Inches To Rs 4 Lakh Cr

The FMCG heavyweight player, ITC Limited is the top Nifty and Sensex gainer in the morning hours on Monday. The stock is the top contributor to the Sensex gains.

ITC has hit its fresh 52-week high of Rs 319.85 per share higher by 3.5% as of 1131 hours. The traded volume of the stock stood at 1,05,08,178 shares with traded value of Rs 330.44 Cr.

As of May 26, 2017, ITC Limited is the fourth top company by market capitalisation on BSE. The M-cap of the company stood at Rs 3.74 lakh Cr. Going ahead, as of its intraday high on Monday of Rs 319.9 per share, the M-cap stood at Rs 3.88 lakh Cr.

The market capitalisation is inching towards Rs 4 lakh Cr. The HDFC Bank Limited is a third top company by M-cap on BSE having a market capitalisation of Rs 4.16 lakh Cr as of May 26, 2017.

ITC has gained around 14% in past one month owing to the finalisation of GST rates by the GST council. The rates are more of favourable to the FMCG industry. On the implementation of the ‘one country, one tax’, GST, ITC Limited is likely to gain further and the M-cap of the company is likely to cross Rs 4 lakh Cr.

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