ITC Shares: SEBI RA Finance With Palak Sees ‘Buy Bias’ With Value At ₹410

ITC shares fell nearly 2% on Wednesday after British American Tobacco (BAT), its largest shareholder, sold a 2.5% stake in a block deal valued at approximately $1.5 billion.

BAT has reduced its holding to 25.5% through this transaction.

SEBI-registered research analyst Finance with Palak has rated ITC as “Neutral with Buy Bias.” She recommends buying it at ₹410 or below, with a short-term target of ₹450. 

They have highlighted ITC’s fundamental strengths: With its business verticals spread across cigarettes, FMCG, hotels, paperboards, and agribusiness, it has reduced dependence on a single sector. 

The company also has well-established brands, such as Aashirvaad, Sunfeast, and Classmate. 

One key highlight for ITC is consistent dividend returns. It also has a debt-free balance sheet and healthy cash reserves.

Going forward, ITC is looking to expand its FMCG and agri-business segments to drive future growth. 

And on its technical charts, the stock is currently trading near ₹420, with immediate resistance at ₹435.50 and strong resistance at ₹450. 

Support is seen at ₹410 and ₹395. Chart patterns indicate a bullish inverse head and shoulders formation on weekly charts, while the Relative Strength Index (RSI) at 55 suggests the stock is in neutral territory.

Data on Stocktwits shows retail sentiment turned ‘extremely bullish’ on this counter amid ‘high’ message volumes. 

ITC shares have fallen 8% year-to-date (YTD).

For updates and corrections, email newsroom[at]stocktwits[dot]com.

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