The counter lost ground on the bourses after the company announced its Q2 results. The results are said to be below market expectations, according to market players.
The company has witnessed a sustained rise over the past few months in a broad market rally following sustained FII buying and a good monsoon.
ITC reported a 12.3 per cent rise in net profit to Rs 42.78 crore for Q2 ended September 30 compared with a net profit of Rs 38.05 crore in the previous corresponding quarter. Net sales advanced 4.4 per cent to Rs 1,536.25 (Rs 1,470.30 crore)
