ITC up on hopes of gainful SC ruling

DALAL STREET SPIKES

ITC hit a 52-week high of Rs 988.60 before closing at Rs 982, up by 3.25 per cent. More than 3.41 lakh shares were traded on the BSE.

The counter surged on good buying interest ahead of the Supreme Court's judgement in a tax evasion case. The counter has seen a sustained upswing on the bourses in the last few months.

According to a market buzz, British American Tobacco (BAT) may acquire additional stake in the company at a premium to the market price but these rumours keep emerging in the market whenever ITC's stock price is on the rise. Most analysts watching the company also expect ITC to do well in the coming months.