Share price of ITC Limited gained over two per cent on Thursday, March 18, after the company clarified that news reports of the firm’s demerger are speculative in nature. On Thursday, FMCG-to-hotel major ITC opened on the BSE at Rs 213.35, touching an intra day high of Rs 217.50 and an intra day low of Rs 211.90. In the third quarter of the current financial year, ITC reported an 11.4 percent year-on-year decline in consolidated profit at ₹ 3,587.09 crore, due to slower revenue growth and weaker hotel business amid the COVID-19 pandemic. The company’s net profit was registered at ₹ 4,050.4 crore in the year-ago period.
Shares of ITC last traded at 2.56 per cent higher to Rs 215.95 on the BSE.