ITC hits 52-week high at Rs 327.70 as Future Group trio slumps to fresh lows
On Sept 5, 2022, ITC touched a new 52-week high of Rs 327.70, topping its prior Rs 324.20 peak, as 200 BSE stocks scaled new highs. Consumer names Patanjali Foods and Vedant Fashions also hit highs, while Future Retail, Future Enterprises and Future Lifestyle Fashions sank to fresh 52-week lows.
What happened
On Sept 5, 2022, ITC hit a new 52-week high of Rs 327.70 while Future Retail, Future Enterprises and Future Lifestyle Fashions slumped to fresh lows.
Key facts
- ITC 52-week high Rs 327.70
- previous high Rs 324.20
- Sensex 59,294
- Nifty 17,678.30
- 200 BSE stocks new highs
- 32 BSE stocks new lows
Why this matters
The Future Group trio slumping to 52-week lows underscores deepening distress that could accelerate asset breakups or acquisition opportunities for stronger consumer players like ITC.
What to watch
- Future Retail insolvency milestones or exchange trading halts
- ITC quarterly results and dividend/demerger announcements
- GST or excise policy changes affecting cigarette segment
- Breadth data: number of BSE stocks hitting new highs vs lows
- Reliance Retail expansion capturing former Future footprint
- Track ITC hotel demerger and FMCG margin commentary as re-rating catalysts
- Monitor Future Group NCLT/lender updates and any circuit-filter or suspension flags
- Watch Patanjali Foods and Vedant Fashions for confirmation of the consumer-quality bid
- Position for continued rotation from distressed retail into cash-generative consumer names