ITC500875Fmcg, tobacco
HSBC maintained a hold rating on ITC but cut target price to 300 from 310 citing pricing and taxation pressures
- New target price
- 300 rupees
- Previous target price
- 310 rupees
- Price hikes implemented
- 75 percent
Heard on business television between 13:20:35 - 13:23:35 IST.
- HSBC maintained hold rating, cutting target price to around 300 from 310.
- Brokerage said price hikes and taxation are key to re-rating; ITC has pushed through 75% of its requisite price hikes.
- Cigarette business cited as largest segment facing most intense competition in recent periods.
- HSBC expects cigarette business recovery to be gradual, with EBIT uptick expected in Q1 FY28 and absolute EBIT recovery by Q4 FY28.
- Competition and tax uncertainty flagged as key risks for the stock.
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Source: Live TV News Channel · 8 Oct 2026
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