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Which Indian company has recently achieved a market capitalization of Rs 5 lakh crore?
A)
SECI
B)
Adani Power
C)
Hero MotoCorp
D)
ITC Limited

Correct Answer :   ITC Limited


Shares of ITC have been on a roll this year, gaining over 21 per cent since the start of this year (2023). The stock recently crossed Rs 400 per share, hitting a 52-week high.

* ITC’s market capitalization touched Rs 5 lakh crore and it became the 11th listed Indian firm to achieve the milestone.

* Some other companies that have achieved this milestone include Reliance Industries Limited, Tata Consultancy Services, HDFC Bank, Infosys, ICICI Bank, Hindustan Unilever, LIC, SBI, HDFC, and Bharti Airtel.

* The cigarettes-to-hotels conglomerate has continued to gain this year, despite the gloomy mood in domestic and global markets. On Thursday, ITC shares hit a record high of Rs 402.60 as it gained over 1 per cent during intraday trade.

* ITC, which is usually considered a safe bet by analysts, has performed well across all its business segments, including paper, FMCG, and hotels. This has attracted many investors, who seem to have found a safe bet in ITC amid worsening macroeconomic factors and dampened global cues.

* Analysts remain bullish on the stock, given its strong operating performance, and most brokerages have favourable ratings on the stock...

Source : India Today

Published On : April 21, 2023
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