ITC hits over 8-month low, falls below Rs 400 mark; down 14% post Budget

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ITC hits over 8-month low, falls below Rs 400 mark; down 14% post Budget - Business Standard

Quick Summary:

Gradual urban demand revival, growing nicotine exports, and a low base in FMCG and Paperboards should drive growth in FY26E, the brokerage firm said.

With improving agri terms-of-trade, healthy kharif output and improvement in rabi sowing, rural consumption is expected to build on the gradual recovery momentum witnessed in recent months; there are incipient signs of recovery in urban demand as well.

ITC anticipated moderation in inflation, uptick in government spending and private investments, and the Government's thrust on public infrastructure & the rural sector augured well for boosting economic activity and a pick-up in consumption demand.