Positive impactResults
ITC shares rise 2% after Q2 results. What are Jefferies, Nuvama and others saying?
Economic Times 1 hr ago·3 Nov 2026, 4:05 am
ITC shares climbed 2% following its Q2 earnings release, defying a decline in net profit. The company's profit fell 18.5% year-on-year, primarily due to increased taxes and weaker earnings from its cigarette business. However, its fast-moving consumer goods (FMCG) division showed strong growth, acting as a key support for the stock.
Despite the mixed financial results, major brokerage houses like Jefferies, Nuvama, Emkay, and DAM Capital remain positive on the stock. They have maintained target prices between Rs 300 and Rs 355, citing the resilience of the FMCG segment and the company's strong market position.
Investors should monitor the company's ability to sustain FMCG growth and how it manages the challenges in its tobacco business. Keeping an eye on future quarterly results and management commentary will be crucial to understanding the stock's next move.
Affected stocks
Bullish1 stock
Bull / bear label is derived from the article's AI sentiment — indicative, not advice. Prices may be delayed.
Key takeaways
- Concerns ITC (ITC).
- Category: Results.
- AI reads the tone as positive (potentially bullish) for the stock.
- Assessed as a significant, market-relevant update.
Why it matters
A meaningful update for ITC worth tracking. The tone is positive — historically associated with upward pressure, though not predictive. Use the price and stock snapshot to gauge how the market is responding.
