ITC rose 1.70% to Rs 205.90 after a foreign brokerage reportedly upgraded the stock to 'outperform' from 'neutral' and raised the target price to Rs 255 from Rs 200 per share.
ITC is engaged in the marketing of fast-moving consumer goods (FMGC). The firm operates through four segments: FMCG; hotels; paperboards, paper and packaging, and agri business. ITC is the market leader in cigarettes in India.
The company posted a 20% fall in standalone net profit to Rs 3232.40 crore in Q2 September 2020 from Rs 4023 crore reported in Q2 September 2019. Net sales fell 3.81% to Rs 11,098.24 crore in Q2 FY21 over Q2 FY20.
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