Godfrey Phillips, ITC shares surge up to 10%: What's fuelling the jump and what lies ahead
On ITC, a market expert said the stock could extend its upward move towards Rs 340 level. He advised investors to maintain a stop loss at Rs 300 to manage downside risks.
- Feb 6, 2026,
- Updated Feb 6, 2026 4:38 PM IST
Shares of Godfrey Phillips India Ltd and ITC Ltd witnessed a sharp rise in Friday's trading session. Godfrey Phillips' stock zoomed 10.44 per cent to Rs 2,188.95, while ITC surged 5.09 per cent to settle at Rs 326.05.
Ravi Singh, Chief Research Officer at Mastertrust, highlighted that both cigarette stocks have witnessed a sharp decline in the recent past following the government's excise duty hike on cigarettes, adding that the current rise should be viewed as a relief rally after the steep correction.
On ITC, Singh said the stock could extend its upward move towards Rs 340 level. He advised investors to maintain a stop loss at Rs 300 to manage downside risks.
Commenting on Godfrey Phillips India, Singh said the stock has the potential to climb to the Rs 2,350–2,400 range in the near term. He recommended placing a stop loss at Rs 2,000.
Singh further added that investors looking for fresh buying in either of the stocks should consider entering on declines, while strictly adhering to the suggested stop-loss levels.
Jigar S Patel, Senior Manager – Technical Research at Anand Rathi, said support for ITC's stock is seen at Rs 310, while resistance is placed at Rs 330. He added that a decisive move above Rs 330 could push the stock towards Rs 335, with the expected short-term trading range pegged between Rs 310 and Rs 335.
For Godfrey Phillips, Patel noted, "Support will be at Rs 2,000 and resistance at Rs 2,300. A decisive move above Rs 2,300 may trigger a further upside towards Rs 2,400. The expected trading range will be between Rs 2,000 and Rs 2,400 for the near term."
Shares of Godfrey Phillips India Ltd and ITC Ltd witnessed a sharp rise in Friday's trading session. Godfrey Phillips' stock zoomed 10.44 per cent to Rs 2,188.95, while ITC surged 5.09 per cent to settle at Rs 326.05.
Ravi Singh, Chief Research Officer at Mastertrust, highlighted that both cigarette stocks have witnessed a sharp decline in the recent past following the government's excise duty hike on cigarettes, adding that the current rise should be viewed as a relief rally after the steep correction.
On ITC, Singh said the stock could extend its upward move towards Rs 340 level. He advised investors to maintain a stop loss at Rs 300 to manage downside risks.
Commenting on Godfrey Phillips India, Singh said the stock has the potential to climb to the Rs 2,350–2,400 range in the near term. He recommended placing a stop loss at Rs 2,000.
Singh further added that investors looking for fresh buying in either of the stocks should consider entering on declines, while strictly adhering to the suggested stop-loss levels.
Jigar S Patel, Senior Manager – Technical Research at Anand Rathi, said support for ITC's stock is seen at Rs 310, while resistance is placed at Rs 330. He added that a decisive move above Rs 330 could push the stock towards Rs 335, with the expected short-term trading range pegged between Rs 310 and Rs 335.
For Godfrey Phillips, Patel noted, "Support will be at Rs 2,000 and resistance at Rs 2,300. A decisive move above Rs 2,300 may trigger a further upside towards Rs 2,400. The expected trading range will be between Rs 2,000 and Rs 2,400 for the near term."