{"id":103140,"date":"2023-05-19T17:30:54","date_gmt":"2023-05-19T12:00:54","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=103140"},"modified":"2023-05-19T17:31:11","modified_gmt":"2023-05-19T12:01:11","slug":"breaking-barriers-5-reasons-why-analysts-predict-itcs-share-price-to-surpass-500","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/breaking-barriers-5-reasons-why-analysts-predict-itcs-share-price-to-surpass-500\/","title":{"rendered":"Breaking Barriers: 5 Reasons why Analysts predict ITC&#8217;s share price to surpass \u20b9 500"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-2500455311\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>Sensex Topper ITC reported its results for the quarter and the year ended March 31, 2023. It had reached a fresh 52-week high of \u20b9 433.45 apiece on May 09, 2023, indicating an increase of 67.97% from its 52-week low of \u20b9 258.05 that it had reached on June 17, 2022, on the Bombay Stock Exchange (BSE).&nbsp;<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-3056541357\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p>At 01:03 PM, the diversified conglomerate\u2019s shares were flat at \u20b9 420.45 apiece, even though it reported slightly better than estimated quarterly and annual results. However, top brokerages have a bullish stance on the company\u2019s share price and believe that its share price can cross \u20b9 500.00.&nbsp;<\/p><p>ITC operates through four business segments: About ITC: FMCG (fast-moving consumer goods), Hotels, Paperboards, Paper and Packaging and Agri-Business. Its products include cigarettes, branded packaged food, stationery, speciality paper and packaging, personal care products, apparel, safety matches and agarbattis, and commodities such as soya, spices, coffee, and leaf tobacco. Its Other segment includes information technology services.&nbsp;<\/p><h4 class=\"wp-block-heading\" id=\"h-results\"><strong>Results&nbsp;<\/strong><\/h4><p>On a sequential basis, ITC\u2019s revenue increased by 7% to \u20b9 18,799.18 crores in the January to March quarter (Q4FY23), as compared to \u20b9 17,569.76 crores in the September to December quarter (Q3FY23). Its net profit increased by 22.66% to \u20b9 5225.02 crores in Q4FY23 as compared to \u20b9 4259.68 crores in Q3FY23.&nbsp;<\/p><div class=\"trade-content_5\" id=\"trade-1121923031\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>It had reported a revenue of \u20b9 18,901.76 crores in the January to March quarter last year (Q4FY22), indicating a marginal decline of 0.54% as compared to \u20b9 18,799.18 crores in the same quarter this year. Its net profit increased by 3.06% to \u20b9 5,225.02 crores this year, as compared to \u20b9 5,070.09 crores in Q4FY22.&nbsp;<\/p><p>For the full year (FY 2022-23), <strong><a href=\"https:\/\/portal.tradebrains.in\/stock\/ITC\/consolidated\" target=\"_blank\" rel=\"noreferrer noopener\">ITC<\/a><\/strong> reported a 17.35% increase in its revenue to \u20b9 75,826.58 crores as compared to \u20b9 64,618.23 reported last year (FY 2021-22). Its net profit increased by 25.46% to \u20b9 19,427.68 crores in FY23 as compared to \u20b9 15,485.65 crores in FY22.\u00a0<\/p><h4 class=\"wp-block-heading\"><strong>Dividend&nbsp;<\/strong><\/h4><p>ITC\u2019s board has recommended a final dividend of \u20b9 6.75 and a special dividend of \u20b9 2.75 per share (face value of \u20b9 1), for the financial year ended March 31, 2023, subject to approval of its shareholders at the ensuing Annual General Meeting (AGM). Such dividend if declared will be paid between Monday August 14, 2023 and Thursday August 17, 2023.&nbsp;<\/p><p>Together with an interim dividend of \u20b9 6.00, declared by the board on February 03, 2023, the total dividend for the financial year ended March 31, 2023 stands at \u20b9 15.50 per share.&nbsp;<\/p><h4 class=\"wp-block-heading\"><strong>Targets&nbsp;<\/strong><\/h4><p>Jefferies has a buy rating on the shares of ITC with a target price of \u20b9 520.00. This translated to an upside of 23.68% as compared to its share price of \u20b9 420.45.<\/p><p>Nuvama Institutional Equities (formerly Edelweiss) has a buy call on ITC\u2019s shares with target price of \u20b9 500. This indicates an upside of 18.92% as compared to its share price.&nbsp;<\/p><div class=\"trade-content-10\" id=\"trade-1753845780\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_3_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"2969612066\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>Motilal Oswal has a buy call on the shares of ITC with a target price of \u20b9 485.00. This implies an upside of 15.35% as compared to its share price.&nbsp;<\/p><h4 class=\"wp-block-heading\"><strong>What are analysts saying?&nbsp;<\/strong><\/h4><p>Most analysts say that ITC\u2019s results were in line with expectations. The company\u2019s FMCG business grew faster than expectations however, its agri business revenue declined in comparison to the street\u2019s expectations.&nbsp;<\/p><p>Brokerage firm Motilal Oswal said that some of the key challenges for the company- an extremely punitive tax regime of the past, Covid-related disruptions and commodity cost inflation now appear to be easing.&nbsp;<\/p><p>\u201cWe remain positive on ITC\u2019s FY24E revenue momentum with all of its segments doing well,\u201d said analysts at Nuvama Institutional Equities. It added that cigarette volume shot up 12% YoY (5-year volume CAGR of 5%), implying market share gains from illegal players with ITC leading the pack.&nbsp;<\/p><p>According to BofA securities, ITC\u2019s core cigarettes business remained steady. Its quarterly earnings were ahead of estimates. BofA said that the company had a solid quarter for the FMCG business as well.&nbsp;<\/p><p>Philip Capital believes that ITC is better placed versus competition at least for next few quarters as more than 80% of the company\u2019s profits are largely protected versus FMCG peers, who are grappling with twin issues of lower volume growth and hyperinflation in raw material index. It expects cigarette volume growth of 7% in FY24 owing to minimal tax increase incidence and market share gains.&nbsp;<\/p><p>JM Financial said that recent government actions, like the amendment to the GST Compensation Cess schedule reflect a pretty supportive policy-environment for the legal cigarettes industry.&nbsp;<\/p><blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p><strong>Written by Simran Bafna&nbsp;<\/strong><\/p><\/blockquote><h4 class=\"wp-block-heading\"><strong>Disclaimer<\/strong><\/h4><div class=\"wp-block-image\"><figure class=\"aligncenter size-full is-resized\"><img decoding=\"async\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/02\/warning-disclaimer.png\" alt=\"\" class=\"wp-image-26306\" width=\"256\" height=\"256\"\/><\/figure><\/div><p><strong>The views and investment tips expressed by investment experts\/broking houses\/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.<\/strong><\/p><div class=\"trade-after-content\" id=\"trade-67731784\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>Sensex Topper ITC reported its results for the quarter and the year ended March 31, 2023. It had reached a fresh 52-week high of \u20b9 433.45 apiece on May 09, 2023, indicating an increase of 67.97% from its 52-week low of \u20b9 258.05 that it had reached on June 17, 2022, on the Bombay Stock [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":21080,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[31,1789],"tags":[9347,9349,3236,9346,948,936,9350,9351],"class_list":["post-103140","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-trending-news","tag-itc-gets-buy-cal","tag-itc-q4-results-2023","tag-itc-share-price","tag-itc-target-2023","tag-stock-market","tag-stock-market-news","tag-what-is-the-future-of-itc","tag-will-itc-cross-500"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Breaking Barriers: 5 Reasons why Analysts predict ITC&#039;s share price to surpass \u20b9 500 - Trade Brains Features<\/title>\n<meta name=\"description\" content=\"Sensex Topper ITC reported its results for the quarter and the year ended March 31, 2023. It had reached a fresh 52-week high of \u20b9 433.45 apiece on May 09, 2023, indicating an increase of 67.97% from its 52-week low of \u20b9 258.05 that it had reached on June 17, 2022, on the Bombay Stock Exchange (BSE).\u00a0\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/breaking-barriers-5-reasons-why-analysts-predict-itcs-share-price-to-surpass-500\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Breaking Barriers: 5 Reasons why Analysts predict ITC&#039;s share price to surpass \u20b9 500\" \/>\n<meta property=\"og:description\" content=\"Sensex Topper ITC reported its results for the quarter and the year ended March 31, 2023. It had reached a fresh 52-week high of \u20b9 433.45 apiece on May 09, 2023, indicating an increase of 67.97% from its 52-week low of \u20b9 258.05 that it had reached on June 17, 2022, on the Bombay Stock Exchange (BSE).\u00a0\" \/>\n<meta property=\"og:url\" content=\"https:\/\/tradebrains.in\/features\/breaking-barriers-5-reasons-why-analysts-predict-itcs-share-price-to-surpass-500\/\" \/>\n<meta property=\"og:site_name\" content=\"Trade Brains Features\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/TradeBrainsOfficial\/\" \/>\n<meta property=\"article:published_time\" content=\"2023-05-19T12:00:54+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-05-19T12:01:11+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/02\/ITC-1-Cover-Image.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"854\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Trade Brains\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/02\/ITC-1-Cover-Image.jpg\" \/>\n<meta name=\"twitter:creator\" content=\"@TradeBrainsGrp\" \/>\n<meta name=\"twitter:site\" content=\"@TradeBrainsGrp\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Trade Brains\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/tradebrains.in\/features\/breaking-barriers-5-reasons-why-analysts-predict-itcs-share-price-to-surpass-500\/\",\"url\":\"https:\/\/tradebrains.in\/features\/breaking-barriers-5-reasons-why-analysts-predict-itcs-share-price-to-surpass-500\/\",\"name\":\"Breaking Barriers: 5 Reasons why Analysts predict ITC's share price to surpass \u20b9 500 - Trade Brains Features\",\"isPartOf\":{\"@id\":\"https:\/\/tradebrains.in\/features\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/tradebrains.in\/features\/breaking-barriers-5-reasons-why-analysts-predict-itcs-share-price-to-surpass-500\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/tradebrains.in\/features\/breaking-barriers-5-reasons-why-analysts-predict-itcs-share-price-to-surpass-500\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/02\/ITC-1-Cover-Image.jpg\",\"datePublished\":\"2023-05-19T12:00:54+00:00\",\"dateModified\":\"2023-05-19T12:01:11+00:00\",\"author\":{\"@id\":\"https:\/\/tradebrains.in\/features\/#\/schema\/person\/640937d840c7695c8f8995dd15ae0666\"},\"description\":\"Sensex Topper ITC reported its results for the quarter and the year ended March 31, 2023. 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