ITC Stock Ka Kya Hoga? Cigarette Tax Hike Par Analysts Mein Daley Pade!

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AuthorIshaan Verma|Published at:
ITC Stock Ka Kya Hoga? Cigarette Tax Hike Par Analysts Mein Daley Pade!
Overview

Bhai log, ITC ke Q4FY26 results aa gaye hain aur FMCG sector ne toh kamaal kar diya! Lekin, cigarette par jo tax laga hai na, uske wajah se analysts ke views split ho gaye hain. Kuch ko lagta hai stock abhi aur girega, jabki kuch ko achha lag raha hai. Stock ke target prices bhi adjust ho rahe hain, kyunki cigarette business mein profit aur sales volume pe asar pad sakta hai.

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Brokerages Ke Alag Alag Views

Dekho, ITC ka Q4FY26 ka performance aane ke baad, bade bade brokerage firms ke reports aa gaye hain, aur sabke views alag hain.

  • Jefferies ne apna 'Hold' rating maintain kiya hai, lekin target price ko ₹400 se kam karke ₹350 kar diya hai. Unka kehna hai ki quarter toh achha tha cigarettes aur FMCG dono se, par March quarter mein tax hike ka full impact nahi dikhega. Asal test toh Q1FY27 mein hoga jab tax ka poora asar pata chalega. Thoda price hike karne se volume aur margin pe impact aa sakta hai, haan, FMCG mein 15% revenue growth achhi baat hai.
  • Nomura ne toh seedha 'Reduce' rating diya hai aur target bhi kam karke ₹300 kar diya hai. Unko lagta hai ki cigarette business mein profit kam hoga kyunki ITC tax hike jitna price nahi badha pa raha hai, varna volume competitors ke paas chala jayega. Nomura ko FY27 mein 5% volume aur 15% EBIT decrease ka andaza hai.
  • Lekin JM Financial ne 'Add' rating aur ₹325 ka target maintain rakha hai. Unka manna hai ki ITC ka strategy sahi hai, thoda-thoda price badha kar (tax increase 35-40% ke muqable 20%) aur premium variants laane se market share bacha rahega aur illegal trade bhi control mein aayegi. FMCG business mein 15% year-on-year growth dikhi hai, aur margins bhi improve ho rahe hain.
  • Motilal Oswal ne 'Neutral' rating aur ₹335 ka target diya hai. Unko lagta hai ki tax poori tarah se pass on na hone ki wajah se short-term mein earnings mein upar-neeche ho sakta hai. FMCG acha hai, lekin illicit cigarette trade se competition ek bada concern hai.

Investors Kya Dekhenge?

Ab investors yehi dekhenge ki aane wale quarters mein cigarette tax hike ka asal mein kitna asar padta hai volume aur profit par. Company ka market share maintain karna aur profit bachaana dono hi critical factors honge.

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Disclaimer:This content is for educational and informational purposes only and does not constitute investment, financial, or trading advice, nor a recommendation to buy or sell any securities. Readers should consult a SEBI-registered advisor before making investment decisions, as markets involve risk and past performance does not guarantee future results. The publisher and authors accept no liability for any losses. Some content may be AI-generated and may contain errors; accuracy and completeness are not guaranteed. Views expressed do not reflect the publication’s editorial stance.