Stock market today: ITC’s share price witnessed calibrated buying during the early-morning session on Wednesday. ITC share price today opened higher at ₹259.40 per share on the NSE and touched an intraday high of ₹263.55 apiece within a few minutes of the Opening Bell, logging an intraday high of around 2% against the previous close of ₹258 per share.
While some experts believe this rally in ITC shares is due to the Indian stock market’s recovery, others attribute it to the rise in the prices of select cigarette brands.
ITC share price | What is fuelling the cigarette brand’s shares?
Speaking on the reason that is fueling ITC share price today, Mahesh M Ojha, VP — Research & Business Development at KC Securities, said, “The ITC share price is rising today as the cigarette brand has raised prices of select cigarette brands. This has triggered the buzz about the improved profitability and margins of the company in the upcoming quarterly earnings.”
Anuj Gupta, a SEBI-registered market expert, said, “The company has strong financials and revision in some selected brands got an extra push after the rebound in the Indian stock market. The stock is facing hurdle in ₹265 to ₹268 range. On breaking above this hurdle, we can expect around 10% more upside in the stock in the short-term, because the fast-approaching festive season is expected to fuel its FMCG business revenue and volume.”
ITC share price target by 2026
Advising ITC shareholders to hold the stock, Mahesh M Ojha said, “ITC shareholders can hold the stock, maintaining a stop-loss at ₹248. The stock may see strong upside once it closes above ₹268 apiece. On breaking above this resistance, we can expect ITC share price to touch ₹290 in the near-term.”
On suggestion to fresh investors, Mahesh M Ojha said, “Fresh investors are advised to buy ITC shares above ₹268 for the short-term target of ₹290, maintaining a strict stop-loss at ₹255. Those who have ITC shares in their portfolio are advised to upgrade their stop-loss from ₹248 to ₹255, once the stock breaks above ₹268 on a closing basis.”
Disclaimer: This story is for educational and informational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified financial experts before making any investment decisions.
