The ITC counter saw huge volumes traded on Friday on market rumours that the company is likely to hike prices on some of its cigarette brands. The stock ended up by 1.13 per cent at Rs 188.10 on the BSE with around 12.8 crore shares traded. The volume traded on Friday was more than its two-week average quantity. The hike is expected to take place in the next 10 days. Dealers said the volumes reflected the huge fund buying that had taken place at the counter.

There is also speculation about the company looking at launching its first product in the personal product space. While the company has in the past indicated its interest in this segment, there has been no formal announcement forthcoming. It is also learnt that the company is looking at acquisition of brands. This could be in the ready-to-eat food segment, in biscuits etc speculate analysts.

Deeptha Rajkumar

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