ITC investors lose Rs 1.41 lakh crore in 2026, shares hit 52-week low; what lies ahead?

Shares of ITC are under bear attack with the FMCG stock falling 21% this year. With this, ITC investors have lost Rs 1.41 lakh crore this year.  ITC stock has exceeded losses of 12% for 2025. ITC shares are trading below the Rs 300 mark for the fourth straight session today. The stock is oversold on charts with its RSI falling below the 30 mark to 28.9. 

In the long term, shares of ITC are down 28.61% in two years and 19.23% in three years. The correction in 2026 comes after indirect taxes on cigarettes were raised sharply in February 2026, following the replacement of the compensation cess with GST and higher excise duties. 

ITC shares hit a fresh 52 week low of Rs 288.75 in the current session. 

In terms of technicals, the FMCG stock is trading below its short term and long term simple moving averages. 

In the current session, ITC shares traded 0.22% lower at Rs 290.40 on BSE against the previous close of Rs 290.40. Market cap of the firm stood at Rs 3.63 lakh crore. Total 8.07 lakh shares of the FMCG firm changed hands amounting to a turnover of Rs 23.46 crore on BSE. 

Goldman Sachs has reduced its price target to Rs 330 against the earlier target of Rs 385. 
It has a neutral stance on the ITC stock. The brokerage expects earnings projection cut to factor in calibrated price increases and the impact of input costs. Referring to the recent price hike of cigarettes, the brokerage said it has built in calibrated price increases rather than a one-shot price hike to pass on the tax hike. 

It also expects lower Q4 earnings given the larger than expected impact on cigarette margins and input cost impact on FMCG margins. 

On the other hand, UBS assigned a price target of Rs 395 on the ITC stock with a buy call. The brokerage is of the view that new prices should protect volumes. The company has adopted a three-pronged pricing strategy to protect volumes. It has ensured a same-price option across all sensitive variants, which should largely limit volume impact. However, ITC is likely to exceed the bearish consensus expectations for FY27

The brokerage finds the stock's current valuation very appealing.