The cigarettes-to-hotels conglomerate, ITC on Thursday joined the elite group of companies having market valuation of ₹6 lakh crore for the first time after its shares rallied over 48 percent so far this year.
The ITC stock hit a record high of 489 rupees a share and gained as much as 2 percent intraday.
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ITC's impressive performance across all its business segments, including cigarette, FMCG, paper and hotels made it an attractive choice for investors. Investors view ITC as a defensive option in their investment portfolios because of its stable cash flow and consistent dividend payouts.
In the ranking of top-10, Reliance Industries continued to rule the chart followed by TCS, HDFC Bank, ICICI Bank, Hindustan Unilever, ITC, Infosys, State Bank of India, HDFC and Bharti Airtel.