ITC share price tanks! Falls 0.23% to Rs 450.25

The ITC share price fell by 0.23% to Rs 450.25 on the NSE today. The stock opened at Rs 451.00 and touched a high of Rs 457.40 during the day. The volume of traded shares was 1,49,20,272.

The decline in the ITC share price was in line with the broader market sell-off. The NSE Nifty 50 index fell by 0.83% to 15,809.20.

There are a few factors that could be contributing to the decline in the ITC share price. One factor is the rising interest rates. The Reserve Bank of India is expected to raise interest rates in the coming months to combat inflation. This could make it more expensive for ITC to borrow money, which could weigh on the company’s earnings.

Another factor is the ongoing war in Ukraine. The war has disrupted global supply chains and caused commodity prices to rise. This could hurt ITC’s margins, as the company is a major consumer of commodities.

Despite the recent decline, the ITC share price is still up by about 10% year-to-date. The stock is trading at a P/E ratio of 29.17, which is slightly above its historical average.

The outlook for the ITC share price is uncertain. The stock could continue to decline if the interest rates and commodity prices remain high. However, the stock could also rebound if the company reports strong earnings in the coming quarters.

Here are some of the key factors that could affect the ITC share price in the near future:

  • The pace of economic growth in India.
  • The direction of interest rates.
  • The performance of the company’s core businesses.
  • The outcome of the ongoing war in Ukraine.

Investors should carefully consider these factors before making any investment decisions in ITC.

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