The company's recent stock surge follows a five-session rebound that carried shares to near three-month highs after hitting a 52-week low. While consolidated net profit declined due to a slump in cigarette revenue and profitability, total net revenue still grew 5% to Rs 20,454 crore. The non-cigarette FMCG division delivered its strongest top-line expansion in 14 quarters to help balance the tobacco downturn. Sustained momentum in consumer staples and stationery has encouraged analysts to view the current core business slowdown as near its end.
Key points
Brokerage firm Nuvama upgraded the stock to a Buy rating with a target price of Rs 310 pe…: Brokerage firm Nuvama upgraded the stock to a Buy rating with a target price of Rs 310 per share.
Jefferies maintained its Buy recommendation alongside a Rs 350 target, pointing to resili…: Jefferies maintained its Buy recommendation alongside a Rs 350 target, pointing to resilient demand across rural and urban markets.
Consolidated net profit fell nearly 19% year-on-year to Rs 4,229 crore despite a 5% incre…: Consolidated net profit fell nearly 19% year-on-year to Rs 4,229 crore despite a 5% increase in total net revenue.
Sources checked by our analysis pipeline: 1
ITC shares rose to Rs 283.5 apiece on NSE on Wednesday morning, the highest level seen by the stock in nearly three months. The stock has now recovered more than 12% in five sessions after hitting a 52-week low of Rs 253 apiece in late October.
ITC on Monday released its results for the July-September quarter of FY27, reporting nearly 19% year-on-year drop in consolidated net profit to Rs 4,229 crore, from Rs 5,187 crore reported in the corresponding quarter of the previous financial year. Net revenue grew about 5% YoY to Rs 20,454 crore.
Also read | ITC Q2 Results: Profit falls 18% to Rs 4,229 crore, revenue rises 5%
The company’s cigarette business was the biggest drag on earnings during the second quarter. The segment’s profit declined more than 27% to Rs 3,813 crore from Rs 5,241 crore in the corresponding period last year, while net cigarette revenue fell 21%. ITC's non-cigarette FMCG business delivered its strongest revenue growth in 14 quarters, supported by higher sales across packaged foods, personal care and stationery products.
Strong operational uptake in India's city gas and fertilizer sectors helped cushion geopolitical supply disruptions from traditional West Asian suppliers through alternative international spot cargoes. However, the gas importer's underlying core operational profit contracted, raising doubts about the durability of its financial performance. Heavy reliance on temporary inventory windfalls creates operational vulnerability as major infrastructure connections face continued execution delays.
Regulators organized the massive transaction to resolve lingering market uncertainty after a financial crisis impacted more than 455,000 investors across 131 funds. The structured equity sale aims to stabilize Turkish equity markets following a steep mid-September downturn that wiped out over $130 billion in market capitalization. By shifting these blue-chip assets directly to institutional investors under strict lockup rules, authorities intend to alleviate downward trading pressure.
An unnamed defense contractor saw its stock surge 26% in October, even as competitor Boeing stumbled. Further details regarding the specific factors powering the contractor's monthly gains were not disclosed.