As of October 1, 2024, the ITC Ltd share price closed at Rs 516.20, marking a slight decline of 0.38% from the previous day's closing price of Rs 518.10. This minor adjustment is part of the stock's recent fluctuations, but it does not detract from the overall positive trend observed in the past few months.
Recent Performance and Trends
ITC Ltd has shown significant growth in recent periods. Over the last month, the share price has increased by 4.92%, and over the last three months, it has surged by 23.41%. On a yearly basis, the stock has appreciated by 16.94%, and over the last three years, it has seen a remarkable increase of 120.05%.
The stock recently hit a 52-week high of Rs 528.55, surpassing its previous highs and reflecting strong investor confidence. This milestone is accompanied by a market capitalization that has breached the 6.5 lakh crore mark for the first time, solidifying ITC's position as a leading stock in the NIFTY50 index.
Key Metrics and Financials
ITC Ltd's financial health is indicated by several key metrics. The company has a Price-to-Earnings (PE) ratio of 31.92 and a Price-to-Book (PB) ratio of 8.71. The company's EPS (Earnings Per Share) on a trailing twelve-month basis stands at Rs 16.38. Additionally, ITC has managed its expenses efficiently, with interest expenses constituting less than 1% of its operating revenues and employee costs at 8.65% for the year ending March 31, 2024.
The company's profitability is evident from its consolidated financials, where it reported a profit of Rs 4,917.45 crore on a total income of Rs 17,701.36 crore for the quarter ended June 2024. For the year ended June 2024, ITC posted a profit of Rs 5,169.37 crore on a total income of Rs 19,152.21 crore.
Analyst Recommendations and Dividend
Analysts have been positive about ITC Ltd, with an overall mean recommendation to 'Buy' from 35 analysts. The recommendation breakdown includes 11 analysts recommending a 'Strong Buy', 20 recommending a 'Buy', 3 suggesting to 'Hold', and 1 recommending to 'Sell'.
ITC Ltd has also been generous with dividends, declaring a final dividend of Rs 7.5 per share on May 23, 2024, which translates to a dividend of 750% on the face value of Rs 1 per share. The ex-dividend date was June 4, 2024.
Conclusion and Future Outlook
Given the strong performance, favorable analyst recommendations, and robust financials, ITC Ltd remains a promising stock for investors. However, as with any investment, it is crucial to monitor market trends and broader economic conditions to make informed decisions.
For investors looking to diversify their portfolios, understanding the stock market and its dynamics is essential. ITC Ltd's recent trends and financial health make it a stock worth considering, but always consult with financial advisors before making investment decisions.
