ITC shares gained over 1 per cent in early trade and were trading 0.4 per cent higher at Rs 451.05 apiece at 11:30 am. Here's what brokerages said about the company's Q1 performance.
ITC shares gained 1.5% to hit the day s high of Rs 456 on the NSE and were top gainers in the Nifty pack despite a negative trade by the frontline indices Nifty50 and BSE Sensex which were down 0.5% in the opening trade.
ITC share price: ITC share price gained nearly 1% to touch an intraday high of Rs 457.40 on NSE today (August 16) after the company reported its Q1 results and approved the demerger of its hotels business. So far this year, ITC shares have rallied more than 36%, delivering multibagger returns. Watch this Visual Story to see whether you should buy the stock for more gains.
Subdued demand both in domestic and export markets, competition from low priced Chinese supplies in global markets, sharp reduction in global pulp prices and high-base effect impacted its performance. Lower realisations and increase in input costs impacted the segment s profitability.
ITC Ltd, Vodafone Idea Ltd, Indiabulls Housing Finance, KNR Constructions Ltd, AstraZeneca Pharma India, Wockhardt Ltd, Saksoft Ltd and Uflex are among a handful of companies that will announce their quarterly results today.