ITC shares trading near 52-week low but analysts see more downside, here's why 

Shares of ITC, which are trading near their 52-week low for nearly four months, are not expected to recover anytime soon. The stock fell to its yearly low of Rs 391.50 on March 3 this year. The FMCG stock has been trading in a range since then and most analysts expect it to lose ground in the near term. 

Kunal Kamble, Sr. Technical Research Analyst at Bonanza said, "ITC continues to trade with a negative bias as the stock is maintaining a lower-high and lower-low formation. In the near term, the price has given a breakout of a falling parallel channel, with pattern targets placed around Rs 390. The stock is trading below its major EMAs, which confirms the prevailing negative trend. On the momentum front, the RSI is sustaining in the lower range, indicating weakness, while the MACD line crossing below the signal line further supports the bearish view. As long as ITC stock holds below Rs 415, the stock is expected to drift lower towards Rs 390 levels in the coming days."

Osho Krishan, Angel Broking said, "ITC has encountered resistance near the 200-DSMA and has subsequently declined, establishing a pattern characterized by lower lows and lower highs in the short term. The price range of Rs 400 to Rs 390 constitutes a critical support zone, historically providing a buffer against declines, and is anticipated to maintain its role as a support level. Conversely, the range of Rs 416 to Rs 420 represents a significant resistance threshold; only sustained buying activity at this level could mitigate the current sluggishness observed in the stock."

However, an analyst holds contrary views. 

A R Ramachandran, SEBI registered Independent analyst says, "ITC stock price is slightly bullish on the Daily charts with strong support at 404. A Daily close above resistance of 410 could  lead to target of 426 in the near term."

In the current session, ITC shares were trading on a flat note at Rs 406 on BSE. Market cap of the firm stood at Rs 5.08 lakh crore. The FMCG stock is trading below its long term and short term simple moving averages, indicating sustained weakness and selling pressure across time durations. 

In time periods till two years, the stock has delivered negative returns to shareholders. 

Meanwhile, shareholders for three years are fetching returns of 41% and 127% returns in five years. 

ITC clocked a 5% rise in consolidated net profit for the June 2025 quarter. Net profit came at Rs 5343 crore in the June quarter against Rs 5092 in the corresponding period a year earlier. Revenue rose 20 per cent to Rs 23,007 crore in Q1 from Rs 19,239 crore in the June 2024 quarter.

EBITDA climbed 4.2% to Rs 6816 crore in Q1 against 6545 crore on a YOY basis. Q1 EBITDA margin came at 29.30% against 34.55% a year ago.