ITC Share Price Target 2024, ITC Share Price Today NSE BSE, ITC Share Price History, ITC Dividend 2024 Amount, Record Date and Payment Date, ITC Q3 Results 2024, ITC Dividend Announcement Latest News: ITC has reported 6.51 per cent rise in consolidated net profit to Rs 5,400.51 crore for the December 2023 quarter as compared to Rs 5,070.09 crore in the October-December period a year ago.
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The company reported rise in profit due to a resilient performance by the FMCG vertical. Most analysts at the brokerages are bullish on the company post announcement of the quarterly results. The company informed the exchanges that its board in a meeting held on Monday, January 29 also approved an interim dividend to its shareholders for the financial year ending on March 31, 2024.
ITC Share Price Target 2024
Domestic broking company Nirmal Bang tagged ‘BUY’ rating on the company, seeing a 16 per cent upside potential on the counter. The analysts at the brokerage have given a target price of Rs 520 a share. “Given the likely healthy earnings growth considering its size and impressive return ratios of over 30%, we maintain BUY on ITC with a TP of Rs 520 (based on 27x Dec’25E EPS),” it said in its latest report.
It added further, “Cigarette volume is likely to have declined by 2% YoY (est.) vs expectation of 2% growth but 4-year Cigarette volume CAGR stood healthy at 4.6%. A combination of improved profitability in Other FMCG, extremely robust performance in Hotels and high other income led to in-line PBT performance while lower tax rate led to the PAT beat.”
Investec maintained ‘BUY’ on ITC with target price of Rs 499 per share. American broking firm Morgan Stanley maintained ‘Overweight’ on the company with a target pri e of Rs 491 apiece. HSBC maintained ‘Hold’ with a target price at Rs 480 a share while Jefferies maintained ‘Buy’ on the company and cutting target price to at Rs 520 a share.
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ITC Dividend Announcement Latest News
ITC, a leading multi-business company with presence in FMCG, Hotels and IT in a regulatory filing, said that its board has declared an interim dividend to its shareholders for the financial year ending on March 31, 2024.
ITC Dividend 2024 Amount
The board at a meeting declared an interim dividend of Rs 6.25 per ordinary share of Re 1 each to its investors.
ITC Dividend 2024 Record Date
The company has fixed Thursday, 8th February, 2024 as the record date for the purpose of determining eligibility of the shareholders for the interim dividend.
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ITC Dividend 2024 Payment Date
The dividend will be paid between Monday, 26th February, 2024 and Wednesday, 28th February, 2024 to eligible shareholders.
