ITC, Godfrey Phillips climb up to 2% on cigarette price hikes; technicals flag Rs 330-335 target
Both tobacco majors lifted prices across several cigarette segments, sending shares up as much as 2%. A technical analyst recommends buying ITC at CMP of Rs 305-310, with a stop loss at Rs 300 and a near-term target of Rs 330-335, framing the hike as margin-supportive.
What happened
ITC and Godfrey Phillips shares rose up to 2% after both announced cigarette price hikes across several segments. Technical analyst suggests buying ITC at CMP
Key facts
- 2%
- Rs 305-310
- Rs 300 stop loss
- Rs 330-335 target
Why this matters
Coordinated price action by the two largest listed tobacco players reinforces oligopolistic discipline in Indian cigarettes, a backdrop that keeps strategic optionality high for portfolio reshuffles or non-tobacco capital deployment.