Shares of FMCG major ITC gained as much as 1.8 per cent ahead of January-March earnings to be published later in the day.
StarMine estimates show a consensus net profit forecast of Rs 2,519 crore ($396 million), a 10.6 per cent increase y-o-y.
HDFC Securities says ITC revenue is likely to grow by 5 per cent to Rs 9,740 crore y-o-y driven by paper and cigarette segment.
But ITC shares were down nearly 10 per cent year-to-date. The company’s outlook has been hit by the govt excise duty hike announced in February.