The share price of ITC fell 2% in the morning session on February 15, the record date for the expanded conglomerate’s interim dividend. The slide came after the stock rallied 3% in the previous conference.

Before this month, ITC declared an interim dividend of Rs 6 per ordinary share for the commercial year ending on March 31, 2023.

The company whispered that the dividend would be waged between March 3 and 5.

At 10 am, the stock was reciting at Rs 379 on the NSE, down 1.8%. The stock has rallied 14% this year.

The company endures being in emphasis amid intense financial recital, a ramble in National Calamity Contingent Duty, and the government’s knockback to sell its tortuous stake held in the corporation.

ITC’s standalone net profit in the December area increased 21% year on year (YoY) to Rs 5,031 crore. As travel recovered, its hotel business revenue grew by 50% to Rs 712 crore. Its cigarette revenue increased by 16.7% YoY to Rs 7,288 crore.

On February 1, the budget day, the stock seized a vigorous pounding and was healthier rapidly after the hike in NCCD by 16%. Analysts consider that the overall bearing on the price of a cigarette branch will be nominal.