ITC hits 52-week high in broad rally as Future Retail, Biocon slide to fresh lows
ITC touched a 52-week high of Rs 327.70, topping its prior Rs 324.20 peak, as around 200 BSE stocks made new highs. Retail-linked Future Retail, Future Enterprises and Future Lifestyle Fashions hit 52-week lows, while consumer names Patanjali Foods, Vedant Fashions and PC Jeweller advanced.
ITC hit a fresh 52-week high of Rs 327.70 amid a broad market rally, while retail-linked stocks Future Retail, Future Enterprises and Future Lifestyle Fashions slid to 52-week lows. Consumer names like Patanjali Foods, Vedant Fashions and PC Jeweller also gained.
Why this matters
ITC's fresh high comes after a sharp 15% two-day drop tied to the shift to fixed cigarette excise and a Nuvama downgrade to 'Hold', and its recent exit from lifestyle retail via winding down Wills Lifestyle.
Retail-company signals are accelerating, up +741300% QoQ.