Hindustan Unilever, which hit a fresh 52-week high of Rs 1,603.60 per share, surpassed cigarette-to-soap major ITC in terms of market capitalisation in intraday trade on Friday to become the fourth largest valued company on the BSE and most valued firm in the FMCG space.

HUL’s MCap stood at Rs 347,103 crore when it touched its 52-week high on Friday, whereas ITC's MCap was Rs 346,052.78 crore at around the same time.

Outperformance by HUL helped the company surpass ITC. HUL has been gaining momentum, while ITC has merely held on to the same level where it was in the last one-year.

In the last one year, HUL rallied from Rs 1,006.35 per share recorded on May 17, 2017 to Rs 1,569.25 per share seen on May 17 this year, which translates in an upside of nearly 56 percent. On the other hand, ITC slipped to Rs 279 per share on May 17 from Rs 281.85 per share recorded on May 17, 2017. This translates in a fall of little over a percent.

Most global brokerage firms maintain a strong buy on HUL post its Q4 result. They have raised their target price for the FMCG major which translates in an upside of six percent. In the case of ITC, most global brokerage firms maintain their recommendation on the stock with a 12-month target price of Rs 340 per share.