After years of lying comatose, shares of cigarettes-to-hotelsto-FMCG conglomerate ITC have enjoyed a renaissance at the bourses. Skeptics watched in surprise as the stock emerged as the biggest winner among Nifty 50 stocks from January to September this year, clocking 53% gains amid a faltering market. But were equity funds able to ride this uptick in the once languishing stock?

While the upswing in ITC began in October 2020, it gained speed