ITC Limited shares were below their 20-day exponential moving average (EMA) in an Oct. 21 Dhan snapshot after The Economic Times reported an earlier trade above it, ahead of a Nov. 2 results review.
The Economic Times’ live update put ITC at ₹263.55 at 11:49 p.m. ET on Oct. 20 (9:19 a.m. IST on Oct. 21), up 1.05% for the day and above a ₹263.25 20-day EMA. At 2:03 a.m. ET (11:33 a.m. IST) on Oct. 21, brokerage Dhan put the shares at ₹263, below its ₹263.25 20-day EMA.
ITC operates businesses in consumer goods, cigarettes, paper, packaging and agriculture. In a July 31 statement, the company said higher cigarette taxes had prompted it to adjust prices in stages to limit the risk of sales shifting to illicit trade.
The statement reported a 28% rise in standalone gross revenue for the quarter ended June 30, alongside declines in other measures. Net revenue fell 14% from a year earlier, earnings before interest, taxes, depreciation and amortization fell 28%, and profit after tax declined 27%.
ITC said in an Oct. 16 filing with the National Stock Exchange of India that its board will meet Nov. 2 to consider unaudited results for the quarter and six months ended Sept. 30.
