Pending — not yet graded
“Maintains a 'Neutral' rating on ITC with a target price of ₹300, implying 18x FY28E EPS. The brokerage notes that the impact of sharp cigarette tax increases and illicit competition will take time to normalize, with calibrated price hikes continuing to affect cigarette EBIT performance in coming quarters.”
Motilal Oswal Analysis’s track record: 6 graded calls · 95% CI 19–81%
ITCNeutralCalled 03 Aug 2026
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