ITC Share Price Dips 4%: Will It Bounce Back? Experts’ View, Target Price, and Stop-Loss
ITC shares came under heavy selling pressure on Thursday, October 8, with the stock falling around 4% during the trading session. The decline came as the broader Indian market also faced strong selling pressure.
ITC opened at around ₹264 on the NSE and slipped to an intraday low of ₹254.70, compared with the previous close of around ₹265.70. The stock moved close to its 52-week low as investors reacted to a large block deal and a weak overall market environment.
The sharp fall has raised an important question among investors: Can ITC shares bounce back from these levels?
ITC Share Price Today
As of October 8, ITC was trading near ₹254, down more than 4% from its previous close. The stock's 52-week range is around ₹254.75 to ₹426.50, meaning Thursday's decline brought the share price very close to its yearly low.
The fall also came on unusually high trading volume, reflecting strong activity in the stock.
The broader market was weak as well. The Sensex fell more than 1,000 points, and the Nifty declined about 1.6% on October 8 amid concerns over crude oil prices, bond yields, inflation, and foreign investor selling.
Why Did ITC Shares Fall 4%?
One of the major triggers was a large block transaction involving GQG Partners.
Reports said GQG Partners' Emerging Markets Equity Fund sold around 36.51 crore ITC shares at ₹257.35 per share in a transaction worth approximately ₹9,395 crore. The large transaction created additional selling pressure on ITC shares.
Market experts quoted by Mint said the block deal was an important reason behind Thursday's sharp decline.
Mahesh M Ojha of KC Securities said the large pre-market transaction involving GQG Partners was the major trigger for the fall.
However, the decline was not necessarily viewed as a sign that ITC's entire business outlook had suddenly changed.
Will ITC Stock Bounce Back?
Some market experts believe ITC could see a recovery if the selling pressure eases and the company's upcoming results meet expectations.
Avinash Gorakshkar, founder of Avinash Mentor Research, described the day's decline as largely sentiment-driven and said investors were expecting better Q2 FY27 results from ITC. He also pointed to expectations of improved margins and profitability.
This means the next quarterly results could become an important factor for the stock.
If ITC reports stronger-than-expected performance, investor confidence could improve. On the other hand, weak earnings or disappointing guidance could keep pressure on the share price.
ITC Share Price Target
According to Mahesh M Ojha of KC Securities, ₹275 could be a near-term target if ITC manages to recover from the current levels.
He identified ₹246 as a key support level and suggested a stop-loss at ₹246 for near-term trades. These are the views of the quoted analyst and should not be treated as guaranteed price levels.
Other brokerage targets reported earlier in 2026 have been considerably higher, ranging from approximately ₹300 to ₹408, although many of those estimates were made before the latest fall and may not reflect current conditions.
This difference shows why investors should not rely on a single target price.
ITC Stop-Loss: Why ₹246 Matters
The ₹246 level is being closely watched by short-term traders following the latest expert commentary.
According to the view reported by Mint, a break below ₹246 could indicate further weakness, while holding above that level could give the stock room to attempt a recovery toward ₹275.
However, stop-loss levels are trading tools rather than guarantees. Actual price movements can be affected by market conditions, company results, news, and sudden changes in investor sentiment.
ITC's 52-Week Low Is Also Important
ITC's recent decline has brought the stock very close to its 52-week low.
Market data showed a 52-week range of approximately ₹254.75 to ₹426.50.
This makes the ₹254–₹255 area an important level for traders to watch.
A sustained recovery from this zone could indicate that buyers are returning. However, if the stock breaks below its yearly low with strong selling volume, investors could become more cautious.
What About ITC's Fundamentals?
The current fall should also be viewed in the context of the challenges facing ITC's cigarette business.
The company has been affected by changes in cigarette taxation and higher excise duties. Its cigarette business remains an important contributor to the company's overall performance, so changes in taxes, cigarette volumes, and pricing can have a significant impact on investor expectations.
At the same time, ITC has businesses beyond cigarettes, including FMCG, hotels, paperboards and packaging, and other operations.
This diversified business structure is one reason why some investors continue to follow ITC even after the sharp correction in its share price.
What Should Investors Watch Next?
There are several important factors that could influence ITC shares in the coming weeks:
1. Q2 FY27 Results
Investors will closely watch revenue, margins, cigarette volumes, and profitability when ITC announces its next quarterly results.
2. ₹246 Support
The level identified by the quoted analyst as a stop-loss is an important short-term reference for traders.
3. ₹275 Near-Term Target
If buying interest returns, ₹275 has been identified by the same analyst as a potential near-term target.
4. Further Block Deals
Additional large transactions by institutional investors could influence the stock's short-term movement.
5. Overall Market Conditions
ITC may continue to be affected by broader market trends. On October 8, Indian equities were under significant pressure because of rising crude oil prices, higher bond yields, foreign investor outflows, and inflation concerns.
Is the ITC Share Price Fall an Opportunity?
The sharp correction may attract investors who believe the stock has become cheaper. However, a falling share price does not automatically mean that a stock has reached its bottom.
For short-term traders, technical levels such as ₹246 and ₹275 may be important. Long-term investors may instead focus more on ITC's earnings, dividend potential, cigarette business performance, and growth in its other segments.
The right approach depends on an investor's time horizon and risk tolerance.
Final Thoughts
ITC shares fell around 4% on October 8, bringing the stock close to its 52-week low. The decline was linked in large part to a major block deal involving GQG Partners, while the broader Indian market was also under pressure.
Some experts believe the fall could be followed by a recovery if ITC delivers stronger Q2 FY27 results and investor sentiment improves. One analyst cited by Mint identified ₹246 as a stop-loss level and ₹275 as a potential near-term target.
Whether ITC actually bounces back will depend on upcoming earnings, market conditions, institutional buying, and the company's business performance.
For investors, the key is to watch the important price levels while also looking beyond the short-term movement and assessing the company's underlying fundamentals.
This article is for informational and educational purposes only and is not investment advice. Target prices and stop-loss levels mentioned above are views attributed to market experts and are not guaranteed. Investors should conduct their own research or consult a SEBI-registered investment adviser before making investment decisions.