ITC share price continued its dream run on Wednesday going up over 3% to hit an all-time high of ₹480.65. Shares of the FMCG giant have seen a consistent uptick since the start of the year. On a year-to-date basis, the stock has gone up over 40%.
The Investment: If your dad had invested ₹10,000 in ITC a decade ago, he would have bought approximately 43 shares. With the current market price at around ₹474, that investment would now be worth approximately ₹20,382.
Note: The stock went for a 1:2 bonus issue in 2016, the prices have been adjusted to reflect that.
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Background: The surge in the stock today comes as a CNBC TV18 report suggested that the process for the demerger of the company’s hotel business was already underway. Citing source the report said that the company is considering different options for the hotel business, including exploring alternative structures or even potentially listing it as a separate entity.
Price Action: ITC’s share price has shown a strong growth trajectory over the past decade. From ₹231.13 a decade ago, the stock has surged to ₹474 as of today, marking a significant turnaround.
Disclaimer: Benzinga India doesn’t give financial advice. The above article is for educational purposes alone.
Editor’s Note: Artificial intelligence was used as a secondary aid in the writing of this story.
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