India's ITC poised for worst month in more than 25 years

ITC

30/01/2026 07:04

** ITC ITC.NS down 20.5% so far in January, set for worst monthly performance since April 2000

** Multiple brokerages downgraded stock citing earnings hit from excise duty on cigarettes effective from Feb 1

** Co reported 10% Q3 profit fall on Thursday, on higher raw material costs, one-time labour code charge

** Dolat Capital downgrades ITC to "reduce" from "accumulate"; cuts PT to 330 rupees from 467 rupees

** Says volume and margins in the cigarette business would remain under pressure

** Stock up 0.6% on the day

** Stock rated "hold" on avg by 34 analysts, median PT at 390 rupees - data compiled by LSEG

($1 = 91.8760 Indian rupees)

(Reporting by Brijesh Patel in Bengaluru)

((Brijesh.Patel1@thomsonreuters.com; Ph no. +91 9590227221;))