Exploring the Path to a 1000INR ITC Share Price: Targets from 2024 to 2030

As of December 1, 2023, ITC stands as India’s 8th most valued company, boasting a market valuation of 5,61,542 crore INR.

For those considering investment in ITC, discerning whether it’s the opportune moment requires insight into its trajectory. Our comprehensive analysis delineates ITC’s potential share price targets from 2023 to 2030. First, let’s delve into pertinent details about ITC.

ITC Limited, an Indian conglomerate, comprises 13 businesses across five segments, encompassing sectors like hotels and diverse merged enterprises. Notably, it exports to 90 countries and holds the mantle as the second most popular FMCG company in India.

Key Highlights from ITC’s Q2 Financial Results:

• Profit Surge: In Q2, standalone net profit surged to Rs 4,927 crore, marking a significant 10.32 percent growth year-on-year.
• Revenue Growth: Total revenue from diverse business segments reached Rs 16,550 crore, reflecting a substantial 2.6 percent increase.
• Strong Cigarette Business Performance: Revenue from the cigarette business witnessed a robust 10.13 percent year-on-year growth, reaching Rs 7,657 crore.
• FMCG Business Growth: The FMCG business demonstrated growth, with an 8.35 percent year-on-year increase.
• Remarkable Hotel Business Revenue: The hotel business recorded a remarkable revenue surge, up by 21.31 percent year-on-year.
• EBITDA Growth: Earnings before interest, taxes, depreciation, and amortization reached Rs 6,041.5 crore, reporting a 3 percent growth.
• Meeting Market Estimates: Q2 results closely aligned with market estimates, signifying confidence in the company’s performance.
• Post-Demerger Earnings: These results marked the first quarterly earnings post the ITC Hotels demerger approval, a notable milestone.

ITC Share Price Targets:

2023:

• December 2023: Maximum Price: ₹482.76, Minimum Price: ₹419.79.
• Current stock price: ₹449.

2024 Projections:

• January to December: Expect fluctuations, with a potential upward trend from ₹428.36 in January to ₹563.34 in December.

2025 Projections:

• January to December: Anticipate dynamic fluctuations, with peaks and troughs, culminating in a peak of ₹686.79 in December.

2026-2030 Projections:

• Expect a potentially lucrative investment landscape, with share prices projected to rise significantly, reaching as high as ₹1,249.96 by 2030.

Financial Snapshot (March 2019 – March 2023):

• Illustrates consistent growth in net sales turnover, total income, operating profit, EBITDA, and reported profit after tax, underscoring ITC’s resilience and competitiveness.

Factors Driving Growth:

• Strong financial performance, generous dividend payouts, supportive policy environment, and the ITC Hotel Demerger.

Analyst Insights:

• Axis Securities recommends purchasing ITC with a target price of ₹540 as of December 1, 2023.

Conclusion:

While ITC’s share prices are showing promise, comprehensive research and risk assessment are imperative before investing. The company’s strategic initiatives, coupled with a favorable market environment, signal potential growth prospects. However, investors should remain vigilant and informed amidst the evolving market dynamics.”

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