ITC hits 52-week high while Future Group retail stocks sink to fresh lows
ITC touched a fresh 52-week high of Rs 327.70 amid a broad market rally lifting 200 BSE stocks, even as retail-linked Future Retail, Future Enterprises and Future Lifestyle Fashions slid to new 52-week lows on both BSE and NSE. Sensex closed at 59,294 and Nifty at 17,678.30.
ITC hit a fresh 52-week high of Rs 327.70 amid a broad market rally, while retail-linked names Future Retail, Future Enterprises and Future Lifestyle Fashions slid to fresh 52-week lows on the BSE and NSE.
Why this matters
ITC's 52-week high continues its run, echoing prior signals of the same Rs 327.70 peak as Future group retail names and Biocon slid. Emkay recently kept an 'Add' rating with a Rs 310 target despite volume concerns.
Retail-company signals accelerating, up 540100% QoQ.