ITC Rises on Strong Management's Outlook for FY13

Source from:  Moneycontrol.com  08/29/2012

Cigarette major ITC gained more than 0.5% on Tuesday as the management remained strong about its outlook on cigarette and non-cigarette businesses. The company sees strong cigarette sales trajectory for the current financial year 2012-13 and expects to maintain FY12 margin in FY13 too. ITC also sees strong growth in non-cigarette FMCG sales. The management said they would raise non-cigarette FMCG prices to expand margins. At 09:45 hours IST, the share was trading at Rs 266.75, up 0.53% with volumes of 18,335 equity shares. It was away by Rs 2 from 52-week high of Rs 269.25 that touched on August 14. Market capitalisation of the company currently stands at Rs 208,946.96 crore. In one-month, the stock rallied 5%. Enditem