ITC shares went up 8 per cent and hit an intraday high of Rs 233.30 on the Bombay Stock Exchange (BSE) on Thursday, and this triggered a meme fest on Twitter as ITC has been a darling of memesters in the past few months.
The focus was on the change in ITC shares’ value after remaining constant for a long time. Online broking firm Zerodha also cashed in on the trend and tweeted a GIF featuring a gentleman looking at his computer with intrigue with the caption, “ITC investors right now.”
Going by the response, clearly some were vindicated by their support for the stock and the handsome gains powered by a bull run in the markets which led to BSE Sensex breaching the 59,000-mark in intraday trade for the first time on Thursday.
Brokerage house CLSA maintained its ‘buy’ call on the stock as it eyes a target price of Rs 265 per share. It further noted that the valuation is compelling coupled with a 6 per cent dividend yield and a record high PE discount.
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