GENERAL29 Sept 2026
ITC market cap slips below ₹3.4 lakh crore after 34% fall in 2026. Good time to enter? Analysts weigh in | Stock Market News
ITC shares fell 34% in 2026, wiping out ₹1.72 lakh crore and cutting its market cap to ₹3.32 lakh crore. The stock is down 47% from its September 2024 peak of ₹499. Higher excise duty on cigarettes and dearer inputs like sugar, copra and palm oil squeezed margins. If you hold ITC, brokerages 360 ONE and Nomura still rate it buy.
Key Statutory Highlights
- ITC shares dropped 34% in 2026, erasing ₹1.72 lakh crore in market capitalisation and taking the company's value down to ₹3.32 lakh crore.
- A higher excise duty on cigarettes, along with rising input costs such as sugar, copra and palm oil, pushed the stock to multi-year lows.
- Brokerage firms 360 ONE Capital Research and Nomura both kept a 'buy' rating on ITC, with 360 ONE holding a target price of ₹440 per share.
Actionable Advice for Taxpayers / Founders:If you already hold ITC or plan to buy, treat brokerage 'buy' calls as opinions, not guarantees, and check your own holding period, risk level and tax position before acting.
Statutory Disclaimer: TaxQue Shorts are AI-assisted editorial briefs for compliance awareness. This brief has not passed every source check; confirm the original notification before acting. This does not constitute formal legal or CA counsel.
TaxQue News Desk
Share: