ITC shares rise for third straight session amid FMCG rally

ITC shares rise for third straight session amid FMCG rally

ITC shares extended gains for the third consecutive session on Friday, supported by strong buying in FMCG and cigarette shares. Shares of ITC rose 2.16 percent to hit an intraday high of Rs 309.95 per share on the NSE. The buying interest came amid a broader rally in FMCG shares, with the Nifty FMCG Index emerging as the top sectoral gainer. The index was up 2.4 percent, with all constituents trading in the green. It has risen for three straight sessions, gaining nearly 5 percent during the period. Additionally, the company said it has become the first in India to receive the globally recognised Farm Sustainability Assessment (FSA 3.0) certification for wheat and paddy sourcing. In a statement, ITC said the certification reinforces its commitment to building responsible, traceable and globally competitive agricultural value chains, while strengthening market access for Indian farmers. Buying was also seen across cigarette stocks, with VST Industries and Godfrey Phillips India trading higher during the session.

Source: https://www.moneycontrol.com/news/business/markets/itc-shares-extend-gains-to-3rd-consecutive-session-on-friday-here-s-why-13891916.html

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