ITC shares are down 27% in six months; price targets for shareholders
ITC share price: The FMCG stock has slipped 31% from the 52 week high of Rs 426.50 reached on October 31, 2025.
- Jun 22, 2026,
- Updated Jun 22, 2026 9:43 AM IST
ITC share price: Shares of ITC Ltd have slipped 27% in six months, hit by a hike in taxes on tobacco in January 2026. High volatility in broader markets also affected sentiment around the stock. However, the stock appears to be in a recovery mode after falling to its 52-week low of Rs 275 on June 4 this year. It has gained 7% from that level.
On Friday, the FMCG stock closed 0.79% lower at Rs 293.40 against the previous close of Rs 291.10. Market cap of the firm stood at Rs 3.67 lakh crore.
The stock has slipped 31% from the 52 week high of Rs 426.50 reached on October 31, 2025.
The stock, which fell 12% in 2025 is already down 20% this year, due to a hike in taxes on tobacco in January 2026. Amid the mild recovery, the stock has turned green in terms of 5 day, 10 day, 20 day but is in the red in terms of 30 day, 50 day, 100 day, 150 day and 200 day simple moving averages.
However, the FMCG stock has received buy calls from a slew of brokerages, raising hopes for retail investors stuck in the FMCG counter.
Brokerage firm Motilal Oswal has retained a neutral stance on ITC and set a target price of Rs 300 per share.
According to the brokerage, although the company could benefit from stronger growth in its FMCG business and an improvement in paperboard margins, these positives are being offset by challenges in the cigarette segment. Rising competition from illicit products, limited room for price hikes, and the difficult balance between protecting volumes and maintaining margins are likely to weigh on ITC's earnings in the near term.
Meanwhile, Systematix has reduced its target price for ITC to Rs 310 from the earlier Rs 340.
The brokerage has cut its FY27 and FY28 revenue and earnings estimates by 2-4%, and now expects revenue and EPS to grow at a CAGR of 6% and 2%, respectively, over FY26-FY28. It anticipates cigarette volumes to decline by 8-10% during the first half of FY27, while a sharp drop in net realizations in the first quarter could lead to a nearly 5% fall in cigarette volumes and an 11% decline in net sales for the full year.
Despite revising its estimates lower, Systematix has maintained its HOLD rating on the stock. The brokerage values ITC at 18 times its estimated FY28 earnings, in line with its current one-year forward valuation multiple, arriving at the target price of Rs 310.
ITC share price: Shares of ITC Ltd have slipped 27% in six months, hit by a hike in taxes on tobacco in January 2026. High volatility in broader markets also affected sentiment around the stock. However, the stock appears to be in a recovery mode after falling to its 52-week low of Rs 275 on June 4 this year. It has gained 7% from that level.
On Friday, the FMCG stock closed 0.79% lower at Rs 293.40 against the previous close of Rs 291.10. Market cap of the firm stood at Rs 3.67 lakh crore.
The stock has slipped 31% from the 52 week high of Rs 426.50 reached on October 31, 2025.
The stock, which fell 12% in 2025 is already down 20% this year, due to a hike in taxes on tobacco in January 2026. Amid the mild recovery, the stock has turned green in terms of 5 day, 10 day, 20 day but is in the red in terms of 30 day, 50 day, 100 day, 150 day and 200 day simple moving averages.
However, the FMCG stock has received buy calls from a slew of brokerages, raising hopes for retail investors stuck in the FMCG counter.
Brokerage firm Motilal Oswal has retained a neutral stance on ITC and set a target price of Rs 300 per share.
According to the brokerage, although the company could benefit from stronger growth in its FMCG business and an improvement in paperboard margins, these positives are being offset by challenges in the cigarette segment. Rising competition from illicit products, limited room for price hikes, and the difficult balance between protecting volumes and maintaining margins are likely to weigh on ITC's earnings in the near term.
Meanwhile, Systematix has reduced its target price for ITC to Rs 310 from the earlier Rs 340.
The brokerage has cut its FY27 and FY28 revenue and earnings estimates by 2-4%, and now expects revenue and EPS to grow at a CAGR of 6% and 2%, respectively, over FY26-FY28. It anticipates cigarette volumes to decline by 8-10% during the first half of FY27, while a sharp drop in net realizations in the first quarter could lead to a nearly 5% fall in cigarette volumes and an 11% decline in net sales for the full year.
Despite revising its estimates lower, Systematix has maintained its HOLD rating on the stock. The brokerage values ITC at 18 times its estimated FY28 earnings, in line with its current one-year forward valuation multiple, arriving at the target price of Rs 310.