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Has ITC Peaked?

This is a question which comes to the mind that has stock price of ITC has peaked and a sheer sale and purchase of the stock by directors shows that it may have had peaked in near future as ITC Chief Mr Deveshwar has sold shares worth Rs  5.8 Crores.

Moreover story does not end here as two other directors have also sold shares worth about Rs 2.7 crore through the open market. In a regulatory filing through the statement issued by ITC under disclosure norms stated that Y C Deveshwar, Chairman and Whole time Director, has sold about 2.79 lakh shares for about Rs 5.78 crore. Besides, Whole time Director K N Grant has also sold 1.25 lakh shares for about Rs 2.58 crore.

The point to note is that one can monitor the sale and purchase of stock by directors because when directors buy stock, it means they have faith in the company and when they sell the shares, it means that they have lost faith in the company and are taking an exit route. However we will not like to apply this rule to a company like ITC as sale by one individual can be due to a personal reason. Please remember that we are optimistic on the growth prospects of ITC and continue suggesting a buy for our subscribers as this stock is an exception and exception proves the rule. 

Bookmark us for stock market tips and make money with our hot share of the day. This post was made on 02 Mar 2012

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