Shares of ITC have reached a new 52-week high, gaining 5% in five consecutive trading sessions and trading with high volume. The stock surpassed the price target of Rs 440 set by BoFA following the announcement of its Q4FY23 earnings, which reported a 23% YoY growth in consolidated net profit. Despite its ascent, the stock has had low volatility and traded with a 1-month beta of 0.43, according to Trendlyne data. Brokerage Nuvama has retained a ‘BUY on ITC with a SoTP-based target price of Rs 500.