ITC slides 25% in six months as brokerages hold fire post-Q4; targets cluster at Rs 335-350
Excise-driven cigarette price hikes squeezed near-term EBIT, with net cigarette sales down 22% even as gross rose 30% YoY. MOFSL, Axis Direct, Nuvama and Elara stay on the sidelines, citing delayed FMCG and Paper recovery. Stock at Rs 302.65, down 1.74% intraday.
What happened
ITC shares down 25% in six months as brokerages stay cautious post-Q4FY26. Excise duty hike forced calibrated cigarette price increases, hurting near-term EBIT.
Key facts
- -25.01% 6M
- Rs 302.65
- -1.74%
- Cigarette sales Rs 11,950 cr +30% YoY
- Net cigarette sales Rs 5,950 cr -22%
- TP Rs 335
- TP Rs 350
Why this matters
A weakened share price and stalled non-cigarette segments open a window to revisit FMCG bolt-ons or Paper consolidation that could re-rate the conglomerate narrative.