The Cigarette-to-Hotel Conglomerate ITC stock jumped up suddenly by 6.8% on Thursday 16th September 2021. Such a sudden surge in one of the most underperforming stocks has led to curiosity among investors for the reasons behind the same. So let's discuss the possible reasons behind this instance in this short article.
The Diversified Conglomerate ITC witnessed a sudden spike in its share price on Thursday 16th September 2021. On an Intra-Day Trade, the share of ITC surged by 8.1% while on a closing basis, the scrip was up by 6.8% and closed at 230.75 on BSE. The Stock also marked the 7-Months High Levels of Rs. 233.50 yesterday. The company marked the 52-Week high Levels of Rs. 239.15 on February 9, 2021.
Overall, the consensus of many big institutional investors, broking houses, and other market participants for this stock is generally ‘BUY’ or ‘HOLD’, and this factor too looks for one of the reasons for such overwhelming response to the stock. Do proper research and study before making any investment decision or consult a financial advisor.