ITC share price: Recent recovery raises investors' hopes; price targets, technicals and more
ITC share: The FMCG stock, which was stuck in bear grip for the last three years, is showing signs of recovery in the near term.
- Sep 23, 2026,
- Updated Sep 23, 2026 11:27 AM IST
Shares of ITC Ltd are trading near their 52-week low reached on August 31 this year. The FMCG stock, which was stuck in bear grip for the last three years, is showing signs of recovery in the near term. The stock has gained 3% in a week and 0.55% in two weeks. ITC has surged above its 5 day, 10 day and 20 day simple moving averages, signaling partial recovery on the counter. However, the FMCG stock trades below its 30 day, 50 day, 100 day, 150 day and 200 day moving averages, signaling weakness in the broader trend.
Why ITC stock is falling
ITC shares are under pressure after the Modi government effected a cigarette tax hike from February 1, 2026. The old compensation cess structure was replaced with the government raising the core GST on cigarettes from 28% to 40% of the retail price.
A subdued earnings performance has also affected sentiment around the FMCG stock. Consolidated net profit slipped 16.21% YoY to Rs 4,394.13 crore in Q1 FY27. Margins fell due to high input costs and aggressive tax burdens.
Another factor leading affecting the FMCG player's stock is FIIs have been continuosly selling their stake in ITC for the last two years. From 40.5% in June 2024 quarter, FIIs stake in ITC has slipped to 34.2 in the June 2026 quarter.
ITC stock price today
In the current session, ITC stock was trading flat at Rs 266.45. Market cap of the firm stood at Rs 3.33 lakh crore. Total 0.41 lakh shares of the FMCG firm changed hands amounting to a turnover of Rs 1.09 crore.
ITC shares are neither oversold nor overbought on charts, with their RSI standing at 48.2.
The stock fell 27.17% in 2026 and 46% in two years. ITC shares hit a 52 week high of Rs 426.5 on October 31, 2025.
The stock is trading neither in the oversold nor in the overbought zone on charts with its RSI standing at 37.7 mark. An RSI below 30 signals a stock is oversold on charts.
ITC share price targets
Brokerage Systematix has kept keep its FY27E-FY29E estimates for ITC unchanged for now. It values the stock at FY28E P/E of 18 times (in-line with its current 1-year forward multiple). It has kept ITC's target price unchanged at Rs 290. The stock trades at P/E ratio of 18 times on FY28E EPS.
The brokerage has a cautious stance on ITC with a HOLD rating as 1) cigarette volume demand remains subdued near-term, even at secondary level, and 2) price-lags drag profitability. It believes the stock could remain range-bound in the near-term. The brokerage preferred alternatives in the consumer staples’ space such as Marico (BUY, TP Rs 990), Bikaji Foods (BUY, TP Rs 740) and Dodla Dairy (BUY, TP Rs 1,295).
Brokerage Macquarie has downgraded ITC to neutral from outperform. It has a price target of Rs 330 on the FMCG stock.
Antique Stock Broking has a target price of Rs 408 per share on the ITC Stock. Among global brokerages, Investec has a target price of Rs 308, while JPMorgan suggested Rs 310 target for the stock.
On the other hand, brokerage 360 One has maintained its target price of Rs 440 on the ITC stock, implying a potential upside of around 66.3% from the stock’s recent price. The brokerage has arrived at the target using a sum-of-the-parts (SOTP) valuation approach. According to the brokerage, ITC is currently trading at around 15.2 times its estimated FY28 price-to-earnings (P/E) multiple.
Shares of ITC Ltd are trading near their 52-week low reached on August 31 this year. The FMCG stock, which was stuck in bear grip for the last three years, is showing signs of recovery in the near term. The stock has gained 3% in a week and 0.55% in two weeks. ITC has surged above its 5 day, 10 day and 20 day simple moving averages, signaling partial recovery on the counter. However, the FMCG stock trades below its 30 day, 50 day, 100 day, 150 day and 200 day moving averages, signaling weakness in the broader trend.
Why ITC stock is falling
ITC shares are under pressure after the Modi government effected a cigarette tax hike from February 1, 2026. The old compensation cess structure was replaced with the government raising the core GST on cigarettes from 28% to 40% of the retail price.
A subdued earnings performance has also affected sentiment around the FMCG stock. Consolidated net profit slipped 16.21% YoY to Rs 4,394.13 crore in Q1 FY27. Margins fell due to high input costs and aggressive tax burdens.
Another factor leading affecting the FMCG player's stock is FIIs have been continuosly selling their stake in ITC for the last two years. From 40.5% in June 2024 quarter, FIIs stake in ITC has slipped to 34.2 in the June 2026 quarter.
ITC stock price today
In the current session, ITC stock was trading flat at Rs 266.45. Market cap of the firm stood at Rs 3.33 lakh crore. Total 0.41 lakh shares of the FMCG firm changed hands amounting to a turnover of Rs 1.09 crore.
ITC shares are neither oversold nor overbought on charts, with their RSI standing at 48.2.
The stock fell 27.17% in 2026 and 46% in two years. ITC shares hit a 52 week high of Rs 426.5 on October 31, 2025.
The stock is trading neither in the oversold nor in the overbought zone on charts with its RSI standing at 37.7 mark. An RSI below 30 signals a stock is oversold on charts.
ITC share price targets
Brokerage Systematix has kept keep its FY27E-FY29E estimates for ITC unchanged for now. It values the stock at FY28E P/E of 18 times (in-line with its current 1-year forward multiple). It has kept ITC's target price unchanged at Rs 290. The stock trades at P/E ratio of 18 times on FY28E EPS.
The brokerage has a cautious stance on ITC with a HOLD rating as 1) cigarette volume demand remains subdued near-term, even at secondary level, and 2) price-lags drag profitability. It believes the stock could remain range-bound in the near-term. The brokerage preferred alternatives in the consumer staples’ space such as Marico (BUY, TP Rs 990), Bikaji Foods (BUY, TP Rs 740) and Dodla Dairy (BUY, TP Rs 1,295).
Brokerage Macquarie has downgraded ITC to neutral from outperform. It has a price target of Rs 330 on the FMCG stock.
Antique Stock Broking has a target price of Rs 408 per share on the ITC Stock. Among global brokerages, Investec has a target price of Rs 308, while JPMorgan suggested Rs 310 target for the stock.
On the other hand, brokerage 360 One has maintained its target price of Rs 440 on the ITC stock, implying a potential upside of around 66.3% from the stock’s recent price. The brokerage has arrived at the target using a sum-of-the-parts (SOTP) valuation approach. According to the brokerage, ITC is currently trading at around 15.2 times its estimated FY28 price-to-earnings (P/E) multiple.