ITC beats Infosys after HDFC to become sixth largest company by m-cap, stock rallies 24% in less than 4 months
By the end of the trading session on April 25th, ITC's market cap stood at ₹5,11,226.51 crore. The m-cap rose by more than ₹3,500 crore from the previous session. With this, ITC climbed the ladder to become the sixth-largest company in India in terms of market cap.
FMCG giant ITC is the shining star of the year 2023 so far at least. The stock has outperformed not just peers but also broader benchmarks and has yielded double-digit growth year-to-date. On Tuesday, ITC reduced the gap between itself and rival Hindustan Unilever (HUL) by becoming the sixth-largest company in terms of market cap. ITC has outrun IT and NBFC giants Infosys and HDFC.
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