ITC rose 1.56% to Rs 220.80, extending gains for fifth consecutive day.
The stock has added 7.58% in five sessions, from its recent closing low of Rs 205.25 recorded on 12 March 2021.
The scrip is currently trading 7.67% below its 52-week high of Rs 239.15 hit on 9 February 2021. The stock has gained 58.85% from its 52-week low of Rs 139 hit on 25 March 2020.
ITC on Wednesday (17 March 2021) informed the stock exchanges that news with regard to a potential demerger of the company is "speculative in nature".
"If and when there is any material development with respect to the affairs of the company, the stock exchanges are kept advised, the company said in clarification issued to the bourses.
ITC operates through four segments: FMCG; hotels; paperboards, paper and packaging; and agri business. ITC is the market leader in cigarettes in India.
The company's net profit declined 11.4% to Rs 3587.20 crore on 1.5% increase in net sales to Rs 13,005.88 crore in Q3 FY21 over Q3 FY20.
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