ITC’s share price has recently reached a record high, crossing ₹522.50 on the BSE, which has propelled its market capitalization to over ₹6.5 lakh crore for the first time. This remarkable growth reflects the company’s strong performance, with shares gaining nearly 22% in the past three months and over 12% year-to-date. As analysts remain optimistic about ITC’s future, many are considering whether now is the right time to invest in this FMCG and hospitality giant. On September 25, ITC announced its acquisition of 1,413 Compulsorily Convertible Preference Shares in Sproutlife Foods Private Ltd., marking a strategic move to enhance its food segment portfolio.
ITC’s Share 2024
This investment aligns with ITC’s aim to capitalize on the growing market for health-oriented food products, especially through online sales channels. With this development and positive market sentiment, the outlook for ITC shares appears promising. Despite potential fluctuations, analysts suggest that ITC shares could see further gains, with technical support at the ₹500 level. If the stock remains above this mark, forecasts indicate it may rise to between ₹530 and ₹538 in the near term, making it a point of interest for investors.
ITC’s Share Price Movement
| Date | Share Price (₹) | Market Cap (₹ Cr) |
| September 25 | 522.50 | 6,50,000 |
| Last 3 Months | 22% Increase | – |
| Year-to-Date | 12% Increase | – |
| Last 1 Year | 17% Increase | – |
ITC’s Share Performance Overview
| Performance Metric | Value |
| Last 3 Months Return | 22% |
| Year-to-Date Return | 12% |
| Last 1 Year Return | 17% |
ITC’s Strategic Acquisition
| Acquisition Date | Company | Investment (₹ Cr) |
| September 25 | Sproutlife Foods Pvt. Ltd. | 255 |
ITC’s Market Position
| Market Position | Description |
| Segment | FMCG and Hospitality |
| Total Investment | ₹255 Cr in Sproutlife |
| Shareholding (%) | 47.50% in Sproutlife |
ITC’s Analyst Outlook
| Analyst | Recommendation | Target Price (₹) |
| Milan Vaishnav | Strong Buy | 530 – 538 |
ITC’s Technical Support Levels
| Support Level | Value (₹) |
| Psychological | 500 |
| Major Technical | 500 |
ITC’s Market Capitalization Growth
| Date | Market Cap (₹ Cr) |
| Initial | < 6,50,000 |
| Current | 6,50,000 |
ITC’s Historical Price Trends
| Time Frame | Price Movement (₹) |
| 3 Months | +22% |
| Year-to-Date | +12% |
| Last Year | +17% |
ITC’s Share Acquisition Details
| Detail | Information |
| Type of Shares | Compulsorily Convertible Preference Shares |
| Number of Shares | 1,413 |
| Total Investment | ₹255 Cr |
ITC’s Future Growth Strategy
| Strategy Focus | Description |
| Portfolio Diversification | Increasing presence in food segment |
| Online Sales Emphasis | Targeting e-commerce platforms |
ITC’s Recent Trading Activity
| Time | Share Price (₹) | Change (%) |
| 11:45 AM | 519.45 | +0.39 |
ITC’s Sector Performance Comparison
| Sector | Expected Performance |
| FMCG | Outperform broader markets |
ITC’s Shareholder Information
| Shareholding Structure | Percentage |
| Promoter Holdings | 47.50% |
ITC’s Online Sales Strategy
| Sales Channel | Focus |
| D2C | High Salience |
| E-commerce Platforms | Growing Presence |
ITC’s Historical Share Price
| Historical Price (₹) | Date |
| 522.50 | September 25 |
ITC’s Growth Projections
| Projection Type | Expected Growth |
| Short-Term | ₹530 – ₹538 |
ITC’s Share Summary
ITC’s share price has recently achieved a record high of ₹522.50, with its market cap surpassing ₹6.5 lakh crore for the first time. The stock has demonstrated strong performance, with returns of nearly 22% over the past three months. Analysts remain optimistic about ITC’s growth potential, especially following its strategic acquisition of Sproutlife Foods. As long as ITC’s shares remain above ₹500, they are expected to continue climbing, with targets set between ₹530 and ₹538 in the near future.
Disclaimer
The opinions and recommendations expressed above are those of individual analysts or brokerage firms and do not reflect the views of Browvopetshop. We recommend that investors consult certified experts before making any investment decisions.
