Will ITC ever break that 300 rupees per share threshold this year?
- Asked By
- Updated On:03-Sep-2022
- Replies:2
Short Answer
ITC could break the 300 rupees per share price threshold provided they follow a particular strategy in running the company and ensure that they don’t make any drastic decisions. However, if things start to normalize and the company can get their establishments running in full gear, nothing stops ITC from crossing the 300 rupees mark.
Detailed Answer
ITC has been one of the biggest FMCG companies in the country, having a market capitalization of 2.6 lakh crore rupees. Despite having such a huge market cap, it still has its stock rallying somewhere around the 200-210 rupees price point. Many speculate that the stock might succumb below 200, but others believe it might cross 300 rupees per share. But is it possible for the tortoise of stock to cross the 300 rupees per share price? Let’s find out.
ITC is a slow-paced stock where you never really know how much it might rally upwards in a good bull market. But then there are several reasons why the company hasn’t seen a fair share of its stock prices go up. One of the biggest reasons has to be its strategy. The company hardly stocks to one, and thus executing a fundamental analysis on the company to project a 300 rupees per share price is difficult.
However, the 300 price point threshold might be defeated for this annual calendar; the company stocks to a particular strategy and ensured that they are constantly following a steady pattern of growth. Any drastic decisions could impact the growth and recovery made. Investors are patient with ITC, but any major dip now could see traders and investors look elsewhere. But then, generally speaking, the stock requires patience to grow. If you’re looking for fast-paced price changes while having a good price at its stock value, you could consider other FMCG companies for the same.
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Discussion (1)
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Harshil Patel
Unless and until ITC doesn't branch out its operations and diversify its managements into running the company, nothing can be said about the stock touching 300 rupees. However, with 80% of its income coming from tobacco products, investing in other profitable sectors might see it touch that mark in the future.