Shares of ITC tumbled nearly 5 per cent on Wednesday, erasing Rs 14,757 crore from its market valuation, after the company's December quarter earnings failed to cheer investors.
ITC reported a 3.84 per cent increase in standalone net profit to Rs 3,209.07 crore for October-December 2018, compared with Rs 3,090.20 crore in the year-ago period.
The scrip fell by 4.16 per cent to end at Rs 277.70 on the BSE. During the day, it plunged 5 per cent to Rs 275.
At the National Stock Exchange (NSE), shares of the company tumbled 4.74 per cent to close at Rs 276.
Led by the decline in the stock, the company's market valuation tumbled Rs 14,757.14 crore to Rs 3,40,096.86 crore on the BSE.
The stock was the worst hit among the blue-chips on both the exchanges during the day.
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In terms of equity volume, 18.55 lakh shares of the company were traded on the BSE, while over 4 crore shares changed hands at the NSE during the day.
ITC's gross revenue from sales rose 15.09 per cent to Rs 11,340.15 crore, against Rs 9,852.74 crore in the year-ago period, it said in a BSE filing.