ITC falls despite plans to create fresh vegetables brand

The scrip touched its fresh 52-week high of Rs 353.20 on August 3, 2017 and its 52-week low of Rs 222.05 on December 26, 2016. NSEBSEITCLoading data…

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    ChartsValuation & Peer ComparisonCommunity BuzzPEER COMPANIES NEW DELHI: Shares of index heavy-weight ITC were trading over 1 per cent lower in Wednesday’s trade after reports that the company will create a new brand to foray into fresh vegetables domain.

    Following the development, the stock lost 1.10 per cent to Rs 274.50 on BSE. It opened at Rs 277.65 and touched an intraday high and low of Rs 277.65 and Rs 274.55 respectively, in the first hour of trade.

    According to reports, ITC is likely to enter the market with fresh potato. a first-of-its-kind in India followed by some more fresh vegetables. The company is also planning to launch fruit pulps and juices in order to become top food company in India.

    For the quarter ended June 30, 2017, the company reported total revenue at 13,800.42 crore and net profit stood at 2,560.50 crore.

    The scrip touched its fresh 52-week high of Rs 353.20 on August 3, 2017 and its 52-week low of Rs 222.05 on December 26, 2016.

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