ITC shares traded higher on Monday amid strong volumes, with investor focus shifting to the company's upcoming Annual General Meeting (AGM) scheduled for July 25.
The stock opened at Rs 413 apiece on the NSE, marginally up from the previous close of Rs 412.55.
Brokerages remain positive on the counter following a strong performance for the quarter and full year ended March 31, 2025.
In a May report titled "Overall Beat," Morgan Stanley said the topline was ahead across businesses, with margins better than its estimates across verticals.
Goldman Sachs retained its 'Buy' rating, citing growth potential in categories such as packaged wheat flour, noodles, premium biscuits, spices, and salted snacks. The brokerage projects the FMCG segment to clock a revenue CAGR of 12 percent over FY22–27, with EBITDA margins likely to expand to around 12 percent by FY27 from nearly 9 percent in FY22. It also noted a recent correction in palm oil prices, which may support margin recovery.
Jefferies also maintained a 'Buy' call, highlighting momentum across ITC’s business segments.
ITC has declared a total dividend of Rs 14.35 per share for the financial year ended March 31, 2025, compared to Rs 13.75 per share in FY24.
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