ITC shares bounce back as analysts back volume resilience despite cigarette earnings hit
ITC has shed over 30% in the past year and trades well below its 52-week high of ₹427, hit in September 2025
ITC Ltd's shares have rebounded on Monday, opening higher and trading around ₹288.65 on the NSE, up 2.72 per cent from Friday’s close of ₹281. The stock saw significant trading volume, with over 3 crore shares changing hands by mid-morning, despite elevated sell-side pressure. Analyst notes over the weekend, including upgrades from Nomura and Jefferies to Buy with target prices of ₹340 and ₹350 respectively, have contributed to the buying interest.
Despite a steep Q1 earnings miss due to a major tax hike, which negatively impacted cigarette earnings, ITC's FMCG non-cigarette business grew revenues 12 per cent year-on-year, and the paper segment posted a 38 per cent rise in EBIT.
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