ITC stock up over 1 per cent on bourses ahead of Q1 results

Bucking the weak broader market trend, shares of FMCG major ITC went up by over 1 per cent in early trade on the bourses on Thursday on expectations of good first quarter results, which are scheduled to be announced later in the day.

The stock, which made a weak opening on the bourses, recovered within minutes to touch an early high of Rs 203.40, up 1.29 per cent from its previous close on the BSE.

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Similarly, on the NSE, the stock jumped by 1.26 per cent to touch a high of Rs 203.45.

ITC was the top Sensex performer during morning trade.

The board of directors of the company will meet today to consider and approve the unaudited financial results for the quarter ended June 30, 2011.

The surge in the blue chip stock was in contrast with the fall in the broader market, with the benchmark Sensex trading lower by 211.85 points at 18,220.40 at 1021 hours.