ITC slides to fresh 52-week low- 3 reasons why Motilal Oswal downgrades to Neutral
Published on: Jan. 2, 2026, 11:15 a.m. | Source: The Financial Express
Motilal Oswal downgrades ITC to ‘Neutral’ as share price drops 4% due to 50% tax increase on cigarettes. Target price now at Rs 400 per share. Surprised by hike, brokerage house predicts 6% EBIT contraction in FY27. ITC’s cigarette business, with 5% growth in last 5 years, will be impacted. | financialexpress.com
