ITC Overtakes Infosys To Become India’s Sixth Most Valuable Company

ITC Overtake Infosys

One of India’s largest Fast-Moving Consumer Goods (FMCG) conglomerates, ITC, has eclipsed renowned IT firm Infosys to rank as the sixth most valued company on the local stock exchanges.

When ITC’s market capitalization increased to Rs 5.11 lakh crore on Monday, it was able to surpass Infosys and HDFC Ltd., which it had already done on Friday. ITC is the greatest performer in the Nifty50 benchmark and may be credited for its performance with its impressive share price growth, which climbed by 59% over the last year and 24% so far in 2023.

On the other hand, Infosys shares have fallen by 20% in 2023, resulting in a loss of Rs 1.80 lakh crore for investors, following its March quarter earnings, which fell short of street estimates.

ITC’s Growth Potential Sets It On Course To Overtake Hindustan Unilever

ITC will need to outperform its competitor FMCG company, which presently has a market valuation of Rs 5.88 lakh crore, in order to surpass Hindustan Unilever (HUL) and move up to the fifth most valuable company in the nation. The majority of experts are upbeat about ITC’s future despite this and think that its diverse businesses will outperform its rivals.

Additionally, the stock has received buy recommendations from 95% of analysts who follow ITC shares on Bloomberg. With a target price of Rs 430, brokerage company CLSA has kept its Outperform rating on ITC, citing the increase in growth visibility for cigarettes made possible by tax structure stability. Long-term fundamentals are still good, and the stock is still strong. A hefty dividend yield also helps the stock, according to CLSA.

ITC Overtakes Infosys – FAQs

Q1: What does ITC need to do to surpass Hindustan Unilever (HUL)?

Ans: ITC must outperform its rival FMCG business, which is presently valued at Rs 5.88 lakh crore on the market, in order to pass Hindustan Unilever (HUL) and climb to the fifth-most valuable firm in India.

Q2: How did ITC manage to surpass Infosys and HDFC Ltd.?

Ans: ITC was able to overtake Infosys on Monday thanks to a surge in market capitalization to Rs 5.11 lakh crore, which it had already done to HDFC Ltd. on Friday. ITC’s performance is attributable to its remarkable share price growth, which increased by 59% over the previous year and 24% thus far in 2023.

Q3: Why have Infosys shares fallen, and how much has been lost?

Ans: In 2023, investors lost Rs 1.80 lakh crore due to a 20% decline in Infosys share price as a result of the company’s March quarter earnings that were below street expectations.


  • Pritipalit

    Priti Palit, an accomplished edtech writer, boasts a wealth of experience in preparing candidates for multiple government exams. With a passion for education and a keen eye for detail, she has contributed significantly to the field of online learning. Priti's expertise and dedication continue to empower aspiring individuals in their pursuit of success in government examinations.

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