While the recent bull run in the Indian markets has been driven by
large-cap stocks, there are a few exceptions. Notable among them is ITC. The
scrip started rising from March 2003 until March 2004 when it topped out at
Rs77. It declined to Rs57 in the middle of June 2004. A fresh rally started and
ITC hit Rs137 in September 2005. The scrip declined to the Rs115 level on
28 October...