Weekly Recap: Shares lead Nifty 50 and cigarette EBIT declines

ITC Limited (NSE:ITC) shares rose 3% to Rs 282 in early trade. Q2 profit fell 20.1% to Rs 4,137 crore while revenue grew 45% to Rs 28,318 crore, and the board approved the amalgamation of Sproutlife Foods with ITC, with no new shares to be issued.

Previous Week Recap

• Shares Lead Nifty After Results: ITC shares rose 3% to Rs 282 in early trade, leading the Nifty 50, after gaining 2.8% the prior session. Q2 profit fell 20.1% to Rs 4,137 crore; revenue grew 45% to Rs 28,318 crore.
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• Cigarette EBIT Falls, Non-Cigarette Grows: ITC’s cigarette EBIT fell 27% year over year, amid delayed price hikes and estimated volume decline of 7–8%. Non-cigarette revenue rose 18% and EBITDA grew 23% in the September quarter.
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• Brokerages Maintain Mixed Ratings: After Q2FY27 results, HDFC Securities kept its ADD rating and ₹300 target for ITC. JM Financial retained ADD but cut its target to ₹305 from ₹320; Motilal Oswal stayed Neutral at ₹285.
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• Sproutlife Foods Merger Approved: ITC Limited (ITC)’s board approved the amalgamation of its wholly owned subsidiary Sproutlife Foods, maker of Yoga Bar, with ITC. No new shares will be issued as part of the amalgamation.
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  Business Line
• Jefferies Sees Gradual Cigarette Recovery: Jefferies kept its Buy rating on ITC with a ₹350 target, saying measured price hikes could aid a gradual cigarette business recovery. It cut EPS estimates by 2%–3%.
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  CNBC TV18
• Flags Inflation And Export Risks: ITC flagged West Asia disruption, import inflation, high freight costs and weak monsoons as risks to input costs and exports. It will track inflation, consumer sentiment and rural demand.
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  Mint
• Business Base Broadens With Additions: • ITC Limited (ITC)’s reported business base broadened with the inclusion of Century Pulp and Paper and Sproutlife.
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• ITC Hotels Announces Three-City Projects: - ITC Limited (ITC) announced hotel projects in Bodh Gaya, Shirdi and Vrindavan across luxury, upscale and mid-market formats. ITC Hotels signed an agreement for a 143-room Welcomhotel.
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  Mint