ITC

ITC Ltd.’s shares advanced about 2 percent after the company reported its third-quarter earnings, reassuring investors about the resilience of its diversified business model. The results reflected stable performance across key segments, supported by steady demand and disciplined cost management. While margin pressures persisted in certain businesses, overall profitability remained intact, reinforcing confidence in the company’s earnings visibility. Market participants interpreted the numbers as evidence of ITC’s ability to navigate inflationary pressures and shifting consumption patterns.

ITC Ltd posted a marginal increase in net profit for the third quarter, rising to Rs 5,018 crore, reflecting steady performance amid challenging macroeconomic conditions. Revenue growth was supported by its diversified business portfolio spanning FMCG, paperboards, agri-business, and hotels, which helped offset pressure in select segments. While cost pressures and competitive market dynamics tempered margins, the company demonstrated operational resilience through disciplined expense management and innovation-led initiatives.

Indian equity markets staged a robust rebound on Friday, with benchmark indices snapping their previous session losses, powered by renewed investor interest in blue-chip stocks like Reliance Industries, HDFC Bank, and ITC. The BSE Sensex surged 769 points to close at 81,721.08, while the NSE Nifty jumped 243 points, nearing the 24,900 mark. The rally came amid mixed global cues and ongoing foreign investor outflows. Gains across major sectors overshadowed a dip in Sun Pharma following weak quarterly results.

Shares of ITC Ltd advanced nearly 3% on Friday following the release of its fourth-quarter financial results, which showed a modest 2% year-on-year rise in net profit. The company’s performance was driven by a recovery in rural consumption, bolstered by favorable monsoon conditions, and stable growth in its dominant cigarette business. Despite headwinds in urban discretionary spending due to inflation, ITC reported gains across its key segments.

India’s equity markets recorded a bullish week with notable gains in the valuations of six out of the top ten most valuable companies. The BSE Sensex advanced by 659.33 points (0.83%), while the NSE Nifty climbed 187.7 points (0.78%). Tata Consultancy Services (TCS) emerged as the standout performer, adding over Rs 53,000 crore to its market capitalization. Other gainers included Reliance Industries, HDFC Bank, Infosys, State Bank of India, and ITC.

India’s benchmark equity indices extended their winning streak for the sixth consecutive session, buoyed by sustained foreign institutional investor (FII) inflows and strong buying in banking stocks. The BSE Sensex rose 187.09 points to settle at 79,595.59, while the NSE Nifty added 41.70 points, closing at 24,167.25. Financial heavyweights like ICICI Bank and HDFC Bank led the rally, offsetting losses in select tech and telecom stocks.