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Stock market today: Amid news that FPI GQG Partners reduced its stake in the flagship Indian FMCG brand, ITC shares came under sell-off pressure during the Thursday session. ITC share price opened lower at ₹264 and touched an intraday low of ₹254.70 apiece on the NSE, losing around 4% against the previous close of ₹265.70.
According to stock market experts, ITC shares are under selling pressure due to the FPI sell-off during the pre-market session. They said that noted FPI, GQG Partners, has offloaded its stake in the company worth around ₹9,500 crore, which is dragging down the ITC share price today. However, they expected a trend reversal as there is nothing wrong with the company's fundamentals. They said the company is expected to report better Q2FY27 numbers, and advised ITC shareholders to hold the scrip, maintaining a stop-loss at ₹246.
Speaking on the major trigger for the ITC shares today, Mahesh M Ojha, VP — Research and Business Development at KC Securities, said, “ITC share price is falling today due to the block deal executed in the pre-market session. In this session, noted FPI, GQG Partners have sold out their stake in the company, which is worth around ₹9,500 crore. This is the major trigger, which is dragging the ITC share price today.”
Expecting a rebound in ITC shares, Avinash Gorakshkar, Founder of Avinash Mentor Research, said, “Today's fall in ITC shares is sentimental. There is nothing wrong with the company's fundamentals. The market hopes for better Q2 results from ITC."
Gorakshkar said the market is expecting better ITC Q2 results, driven by higher margins and profitability from soft tobacco prices during the July to September 2026 quarter. He said that ITC is a portfolio stock and it is available at a discounted price. So, some investors are expected to engage in value buying of ITC shares.
On suggestions to ITC shareholders, Mahesh M Ojha said, “ITC share price has strong support at ₹246. Existing shareholders are advised to hold the scrip, maintaining a stop-loss at ₹246. The stock may touch ₹275 in the near-term on a potential bounce back.”
On suggestions to fresh investors, Mahesh M Ojha said, “Fresh investors can also buy ITC shares at the current market price, maintaining a stop-loss at ₹246 for the near-term target of ₹275.”
Disclaimer: This story is for educational and informational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified financial experts before making any investment decisions.
Asit Manohar has nearly two decades of experience in the mainstream media. In this period, he has served esteemed media organisations like NDTV Profit, The Economic Times, and Zee Business. He has been working at LiveMint Digital since April 2021. During these two decades of journey in mainstream media, Asit has mainly covered external affairs, markets and personal finance. However, his earliest beats include railways, SME, MSME, and politics (Congress beat). Some of his features on political, economic, and foreign policy are documented in the parliamentary records. <br><br> While pursuing his MA (Mass Communication, Session 2004-06), Asit began his media career as a stringer at All India Radio in Varanasi. At AIR Varanasi, Asit worked with the Gyanvani, Yuvvani and Vividh Bharti teams. After working for nearly one year at AIR Varanasi, he shifted to print journalism and started working as a stringer for the HT Media Ltd, Varanasi. At HT Media Ltd in Varanasi, he covered the BHU beat. <br><br> Asit has also worked with some brokerage houses. He has worked with Religare Broking and India Infoline, where he assisted the research team in developing and executing trade strategies for intraday cash, F&O, and commodities. <br><br> Asit is a Gold Medalist in MA (Mass Communication) from BHU, Varanasi. He did his BSc. (Hons) in Mathematics from Magadh University, Bodh Gaya. Asit was a National Talent Scholarship holder during his senior secondary studies (1988-91).
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