ITC share price

Investors have been liquidating their long position in many frontline shares as the broader markets suddenly took a U-turn. While the Nifty 50 made a high ...

Coming to one interesting fact, ITC is again ranked 4th in the Nifty 50 list, when companies with the highest net profit margins are talked about, with a 24.38% margin in FY22. Also, the dividend yield of ITC is around 3.67%, which is one of the main attractions for investors. In fact, ITC is currently the top Nifty 50 gainer and has surged to a new 52-week high of INR 317 as it has a firm mood to go against the grain. In the list of Nifty 50, it is ranked 4th in terms of returns in the last one year with a 49.3% rally. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Well, looking at the chart, the stock might definitely look like it is in the sky and even aggressive traders might want to wait till the nearest support level of INR 304, which is the swing low of 12 August 2022. We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. More conservative investors might prefer to wait for the previous breakout level of INR 280. A stock climbing to a new high in such a weak environment shows its true strength. ITC which was once tagged as the laggard, slow mover, and even a meme stock is now showing its true colors.No doubt, there was a decent time when the share price of ITC didn’t move at all and tested investors’ patience to an extreme level. [RELI ](/equities/reliance-industries)), HDFC Bank (NS: [HDBK ](/equities/hdfc-bank-ltd)), and ICICI Bank (NS: [ICBK ](/equities/icici-bank-ltd)) were down over 0.48%, 1.39%, and 1.94% respectively, the share price of ITC was up 1.19%.