ITC Ltd gained for a third straight session today. The stock is quoting at Rs 248.5, up 1.8% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is up around 0.59% on the day, quoting at 11407.7. The Sensex is at 38463.72, up 0.65%. ITC Ltd has gained around 3.8% in last one month.

Meanwhile, Nifty FMCG index of which ITC Ltd is a constituent, has gained around 7.67% in last one month and is currently quoting at 30591, up 1.19% on the day. The volume in the stock stood at 59.88 lakh shares today, compared to the daily average of 214.88 lakh shares in last one month.

The benchmark October futures contract for the stock is quoting at Rs 248.45, up 1.43% on the day. ITC Ltd is down 12.08% in last one year as compared to a 7.77% jump in NIFTY and a 8.62% jump in the Nifty FMCG index.

The PE of the stock is 23.41 based on TTM earnings ending June 19.

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According to reports, the brokerage cited that ITC is one of the biggest beneficiaries of corporate tax cut, adding that increased pricing flexibility would strengthen long-term growth. However, it does not expect ITC to raise prices in the cigarette portfolio in FY2020.

Finance Minister Nirmala Sitharaman on 20 September 2019, slashed corporate tax rate to 22% without exemptions. The effective corporate tax rate after surcharge now stands at 25.17%. As on 31 March 2019, ITC paid corporate tax of 32.97%.

ITC is currently the top gainer in the Nifty 50 index.

Meanwhile, the S&P BSE Sensex was down 90.80 points or 0.23% to 38,898.94.

On the BSE, 6.90 lakh shares were traded in the counter so far compared with average daily volumes of 9.47 lakh shares in the past two weeks. The stock hit a high of Rs 258.10 and a low of Rs 250.10 so far during the day.

The stock hit a 52-week high of Rs 310 on 15 Apr 2019. The stock hit a 52-week low of Rs 234.1 on 18 Sep 2019.

The ITC stock underperformed the market over the past one month, rising 3.22% compared with 3.99% rise in the Sensex. It also underperformed the market in past one year, sliding 14.56% as against Sensex's 6.70% fall.

On a consolidated basis, ITC's net profit rose 12.8% to Rs 3355.01 crore on a 6.7% increase in net sales to Rs 12532.31 crore in Q1 June 2019 over Q1 June 2018.

ITC has a diversified presence in FMCG, hotels, packaging, paperboards & specialty papers and agri-business.

Its wide range of cigarette brands includes Gold Flake, Bristol, Insignia, India Kings, Classic, American Club, Navy Cut, Players, Scissors, Capstan, Berkeley, Flake, Silk Cut, Duke & Royal.

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ITC announced that S. S. H. Rehman ceased to be an Independent Director of the Company with effect from 15 September, 2019 on completion of his term.

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ITC Ltd is down for a fifth straight session today. The stock is quoting at Rs 237.5, down 0.79% on the day as on 13:19 IST on the NSE. The benchmark NIFTY is down around 1.05% on the day, quoting at 10887.9. The Sensex is at 36722, down 1.08%.ITC Ltd has lost around 5.59% in last one month.Meanwhile, Nifty FMCG index of which ITC Ltd is a constituent, has eased around 0.42% in last one month and is currently quoting at 28751.75, down 0.12% on the day. The volume in the stock stood at 55.81 lakh shares today, compared to the daily average of 110.19 lakh shares in last one month.

The benchmark September futures contract for the stock is quoting at Rs 238.1, down 0.71% on the day. ITC Ltd tumbled 21.68% in last one year as compared to a 3.47% slide in NIFTY and a 7.04% fall in the Nifty FMCG index.

The PE of the stock is 22.93 based on TTM earnings ending June 19.

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