ITC hits highest level since May 2019; stock soars 10% in 6 days

ITC has been gaining market share in cigarettes over the last one year through new premium products & aggrieve trade promotions

Shares of ITC hit an over two-year high of Rs 293, gaining 3 per cent on the BSE in Monday's intra-day trade, on expectation of strong earnings growth. The stock of the diversified fast moving consumer goods (FMCG) company was trading at its highest level since May 2019, and has surged 7 per cent in past two trading days.

Moreover, in the past six trading days, it has soared 10 per cent, as compared to 0.69 per cent rise in the S&P BSE Sensex.

ITC is the best performing stock among the S&P BSE Sensex and Nifty50 index,