ITC stocks spiked over 7 percent, Refinitiv analyses expect ITC’s share at Rs 12.68 in FY22

Investors had fun on social media as ITC stocks spiked over 7 percent on Thursday morning. The scrip traded at Rs 232, up 7.48 as of 9.45 am.

On Thursday, ITC stock surges at a 7% high, and any huge movement are nearly cathartic for its investors, who’ve been bored with looking at ITC trading in a narrow range.

But, possibly that persistence is paying off now. Investors had fun on social media and WhatsApp groups as ITC stocks spiked over 7 percent on Thursday morning. The scrip traded at Rs 232, up 7.48 as of 9.45 am.ITC’s share price today has crashed by over 2.5 percent during the opening session. It went down to 214.25, which was Rs 5.80 lower from its previous close on 1st April 2021. According to stock market experts, the ITC stock price crash is due to the fresh fears of rising COVID-19 cases across the nation.

The analyst community, however, has been in large part bullish at the counter. It is a consensus ‘buy’ from 34 analysts. Only one analyst believes you need to promote the stock. The Refinitiv database suggests the median price goal at the stock is around Rs 250, which means an ability upside of about 11 percent ultimate trading charge.

The maximum goal price puts the inventory’s fair fee at Rs 345 and the decrease goal puts it at Rs 198. The consensus of 9 analysts that Refinitiv analyses expect ITC’s income consistent with share at Rs 12.68 in FY22 and Rs 14.13 in FY23. This is against the reported EPS of Rs 10.70 in FY21. Similarly, they count on FY23 sales to rise to Rs 59,681 crore from present-day Rs 49,273 crore.

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