ITC Share Price Target: ITC Ltd has come into focus following a strong rally in FMCG stocks in the previous trading session. The broader sector witnessed robust buying interest, with the Nifty FMCG index surging 2.7 per cent, or 1,279 points, to close at 49,657.75.
ITC, a major constituent of the BSE Sensex, ended the session higher. The stock closed at Rs 306.80, gaining 1.1 per cent or Rs 3.4. During the day, it also touched an intraday high of Rs 310, and it was among the top gainers on April 17. Despite recent volatility, the stock has remained active amid renewed sectoral strength.
Analyst outlook remains positive on ITC
Market analysts continue to maintain a positive view on ITC. Speaking to ET Now Swadesh, analyst Pradeep said, “I would still recommend a buy. The valuations are comfortable.” He added that the recent correction has improved the stock’s attractiveness for investors.
The stock has corrected nearly 16 per cent since January 1, which, according to analysts, offers a favourable entry point for long-term investors.
ITC Share Target Price
On the valuation front, analysts have reiterated a buy recommendation with an expected upside of nearly 24 per cent over the next 6-8 months. The target price has been pegged at Rs 380.
For short-term traders, the stock is also expected to maintain upward momentum over the next one to two weeks, with potential levels seen in the Rs 325 to Rs 330 range, implying an upside of around 6–8 per cent from current levels.
From a risk management perspective, the stop loss has been suggested at Rs 296, which is considered a comfortable level in case of any near-term volatility.
ITC stock performance
ITC Ltd has delivered mixed performance across timeframes, with short-term gains of 0.85 per cent in one week and 4.76 per cent over two weeks, while the one-month return stands at 0.61 per cent.
However, the stock remains under pressure in the medium term, declining 6.82 per cent in three months and 15.70 per cent on a year-to-date basis.
Longer-term performance also shows weakness with losses of 25.55 per cent in six months and 28.19 per cent over one year, though it has generated strong returns of 55.96 per cent over five years and 46.91 per cent over ten years.
(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money-related decisions.)
