Markets · Press ✓ 4 outlets
ITC jumps nearly 5 per cent after Citi double upgrade to Buy
Citi upgraded ITC from Sell to Buy and raised its target to Rs 300, citing the end of the earnings downgrade cycle after a sharp tax increase on cigarettes. The stock rose between 4.5 and 5 per cent in Monday's session, depending on the outlet. Prior close was about Rs 255–257. FMCG stocks led the market.
ITC is a heavyweight in both the Sensex and the Nifty, so a 5 per cent move adds many points to the index by itself.
If you own an index fund, a good part of Monday's gain came from this one stock.
A single upgrade rarely changes a trend. See whether other brokerages follow.
DailyDrop India edition No. 1 · Morning · MON., OCT. 5, 2026