Meanwhile, the S&P BSE Sensex was down 133.02 points or 0.66% at 19,989.30
On BSE, 1.39 lakh shares were traded in the counter as against average daily volume of 3.35 lakh shares in the past one quarter.
The stock hit a high of Rs 354 and a low of Rs 343.65 so far during the day. The stock had hit a record high of Rs 355 on Saturday, 11 May 2013. The stock had hit a 52-week low of Rs 225 on 5 June 2012.
The stock outperformed the market over the past one month till 11 May 2013, advancing 24.35% compared with the Sensex's 8.52% rise. The scrip also outperformed the market in past one quarter, rising 18.55% as against Sensex's 3.4% gain.
India's largest cigarette maker by sales has equity capital of Rs 790.18 crore. Face value per share is Re 1.
Shares of ITC gained 8.7% in five trading days to Rs 354.70 on Saturday, 11 May 2013 from a recent low of Rs 326.30 on 6 May 2013. The gains were triggered after the Uttar Pradesh state government on 7 May 2013 slashed the value added tax (VAT) on cigarette/cigar from existing 50% to 25%. The state government had last year increased VAT on cigarette/cigar and tobacco products sharply from 12.5% to 50%.
The Centre raised the excise duty on cigarettes by about 18% on all cigarettes except cigarettes of length not exceeding 65 mm in Union Budget 2013-14.
ITC unveils FY 2013 results on Friday, 17 May 2013. The company's net profit rose 20.6% to Rs 2051.85 crore on 23.1% growth in net sales to Rs 7627.07 crore in Q3 December 2012 over Q3 December 2011.
ITC has a diversified presence in cigarettes, hotels, paperboards & specialty papers, packaging, agri-business, packaged foods & confectionery, information technology, branded apparel, personal care, stationery, safety matches and other FMCG products. ITC is a market leader in cigarettes.
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