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ITC rises as it expecting stationery business to get back to double-digit growth from December

ITC is currently trading at Rs. 237.00, up by 1.00 points or 0.42% from its previous closing of Rs. 236.00 on the BSE.

The scrip opened at Rs. 244.00 and has touched a high and low of Rs. 244.00 and Rs. 234.95 respectively. So far 129504 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 1 has touched a 52 week high of Rs. 322.70 on 03-Sep-2018 and a 52 week low of Rs. 234.70 on 23-Aug-2019.

Last one week high and low of the scrip stood at Rs. 257.45 and Rs. 234.70 respectively. The current market cap of the company is Rs. 291461.23 crore.

The Institutions and Non-Institutions held 55.15%, and 44.85%, stake in the company, respectively.

ITC is expecting its stationery business to get back to double-digit growth from December after dropping to single digit in the last six months due to economic slowdown and floods affecting sales.

The company, which sells stationery primarily through its Rs 1,500 crore Classmate brand, is focusing on the innovation of new products to push sales and tide over the current slowdown and overcome challenges during the off-season period from July to October.

ITC has business a interests in cigarettes, hotels, paperboards and specialty papers, packaging, agri-business, packaged foods and confectionery, information technology, branded apparel, personal care, stationery, safety matches and other FMCG products.

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