ITC stays below ₹300 as cigarette-tax changes weigh on sentiment
ITC shares are trading near ₹288, remaining below ₹400 for seven months after higher cigarette taxes and subdued quarterly earnings pressured sentiment. The tax reset, effective February 1, 2026, is a key watchpoint for the FMCG and tobacco major.
ITC shares remain below Rs 300 after higher Indian cigarette taxes and subdued Q4 earnings hurt sentiment. Analysts identify Rs 270-275 support and Rs 310-320 resistance, while the FMCG and cigarette major trades near Rs 288.
Why this matters
ITC's share weakness follows its ₹3,500 crore Century Pulp acquisition, which lifted paper capacity by over 50%, and contrasts with the company's September 2022 52-week high as Future Retail and Future Lifestyle hit fresh lows.
Retail-company signals are accelerating, up 200871% QoQ.