What is ITC?
ITC is one of India's largest conglomerates, with a presence in sectors ranging from fast-moving consumer goods (FMCG) to hotels, paper, agribusiness, and more. ITC has a long history, having been founded in 1910 as the Imperial Tobacco Company of India. Over the years, ITC has grown to become a major player in the Indian economy, with its shares traded on the National Stock Exchange and the Bombay Stock Exchange. In 2021, ITC was ranked as the third-largest company by market capitalization in India.
ITC Share Price History
ITC's share price has been on an upward trajectory since its listing on the NSE and BSE in 2003. In the past few years, the share price has been hovering around the Rs 300 mark, with a few notable spikes over the years. The highest ITC's share price has ever reached was Rs 395.35 in February 2021. Since then, the share price has seen a steady decline, with the current price hovering around Rs 280.
Factors Affecting ITC Share Price
The share price of ITC is influenced by a variety of factors, including the performance of the company, the macroeconomic environment, and the stock market sentiment. The performance of ITC's various divisions can have a major impact on the share price. For example, the FMCG division accounts for the majority of ITC's revenue, and any significant changes in its performance can have a significant effect on the share price.
ITC vs. Other FMCG Companies
ITC is one of the largest FMCG companies in India, and its share price is often compared to other major players in the sector. In 2021, the share prices of Hindustan Unilever, Nestle India, and Britannia Industries were all significantly higher than ITC's. However, ITC has been able to maintain its share price despite the competition, which is a testament to its strength and resilience.
Future Prospects
ITC is well-positioned to benefit from the growth of the Indian economy in the future. Its diversified portfolio of businesses, strong balance sheet, and presence in fast-growing sectors such as FMCG and hotels make it an attractive investment for long-term investors. In addition, the company is expected to benefit from the growing demand for consumer products in India in the coming years, which could lead to an increase in its share price.
Conclusion
ITC's share price has been on an upward trajectory since its listing on the NSE and BSE in 2003. The company has been able to maintain its share price despite the competition from other major FMCG companies. The future prospects of ITC look positive, with the company well-positioned to benefit from the growth of the Indian economy in the future. Investors looking to invest in ITC should consider its long-term potential before investing.