FMCG stocks trade in red; in-line with performance of major indices
ITC Limited is trading marginally lower by around 0.82% at Rs 301.1 per share. The FMCG heavyweight, ITC Limited closed higher for the past three consecutive trading sessions.
The stock started its northward rally after the GST council meet finalised the rates for many FMCG goods. The decision of GST council was majorly positive for the sector, reports market experts.
As the major indices in the markets are trading in negative and there are 1346 declines, 181 advances and 417 unchanged stocks on NSE as of 0947 hours, the market has the strong negative undertone.
This has led to some correction in an upward rally of ITC Limited. The Nifty FMCG index is trading lower by 0.85%. The peers like Colgate, Emami, Dabur are also losing their sheen in the morning hour on Tuesday’s trade.
Stock View :-
ITC Ltd is currently trading at Rs 300.1, down by Rs 3.55 or 1.17% from its previous closing of Rs 303.65 on the BSE.
The scrip opened at Rs 302 and has touched a high and low of Rs 303.75 and Rs 298.6 respectively. So far 6244695(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 368855.29 crore.
The BSE group 'A' stock of face value Rs 1 has touched a 52 week high of Rs 304.9 on 22-May-2017 and a 52 week low of Rs 216.67 on 20-May-2016. Last one week high and low of the scrip stood at Rs 304.9 and Rs 276.95 respectively.
The promoters holding in the company stood at 0 % while Institutions and Non-Institutions held 55.76 % and 44.04 % respectively.
The stock is currently trading above its 50 DMA.
ITC Ltd :-
BSE 299.70 [3.95] ([1.30]%)
NSE 299.80 [3.80] ([1.25]%)
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