ITC slides to a 5-month low; stock down 5% in 3 days post Q2 results

ITC was quoting at its lowest level since May 23, 2023 and has declined nearly 15% from its record high level of Rs 499.60 touched on July 24.

Shares of ITC continued to trade on a weak note, and hit a five-month low at Rs 427.15, down 2 per cent on the BSE in Wednesday’s intra-day trade. In past three trading days, the stock of diversified fast moving consumer goods (FMCG) company has dipped 5 per cent after the firm reported a lower-than-expected rise in consolidated net profit for the September quarter (Q2FY24).

The stock was quoting at its lowest level since May 23, 2023. With past three days decline, the market price of ITC has declined nearly 15 per cent from its record high of Rs