−40% from the high · +0.49% from the low
Short build-up into a 26-day expiry: futures OI +0.8% on a −2.6% day, the most call OI sits at 270, the most put OI at 270, max pain 268.
ITC futures closed at ₹257.70, +0.7% to spot, with 94% of open interest in the 27 Oct contract, and the 255 straddle prices a move of about ±4.4% by expiry.
| Expiry | Close ₹ | Basis ₹ · % | Annualised % | OI lots · on the day | Share of OI % | Contracts traded |
|---|---|---|---|---|---|---|
| 27 Oct26 days | ₹257.70 | +1.80+0.7% | +9.9% | 86,000▲ +0.5% · +440 lots | 94 | 7,400 |
| 23 Nov53 days | ₹258.85 | +2.95+1.1% | +7.9% | 5,800▲ +3.6% · +200 lots | 6.3 | 790 |
| 29 Dec89 days | ₹260.45 | +4.55+1.8% | +7.3% | 130▲ +500.0% · +110 lots | 0.14 | 130 |
6.4% of futures OI sits beyond the 27 Oct contract · 56 of 71 listed contracts traded · 66,000 option contracts changed hands
The 255 straddle closed at ₹11.25 (call 6.90 + put 4.35), pricing a move of about ±4.4% by the 27 Oct expiry. In the last 253 windows of 19 sessions, ITC moved more than that 85 times.
After the last 8 bulletins, ITC closed higher five sessions later in 5 of 8.
| Bulletin | Day of the news | 1 session later | 5 sessions later | Futures OI on the day |
|---|---|---|---|---|
| 24 JulITC announces ₹20,000 crore capital expenditure plan | ▲ +0.8%Nifty +1.0% · −0.1 pp | ▲ +0.4%Nifty +0.9% · −0.5 pp | ▲ +1.3%Nifty +4.2% · −3.0 pp | ▲ +0.9%long build-up |
| 24 JulITC plans ₹20,000 crore capex for manufacturing expansion | ▲ +0.8%Nifty −0.4% · +1.2 pp | ▲ +1.6%Nifty +0.5% · +1.1 pp | ▼ −0.1%Nifty +2.1% · −2.3 pp | ▲ +4.5%long build-up |
| 23 JulITC announces ₹20,000 crore capex for manufacturing expansion | ▲ +0.8%Nifty −0.4% · +1.2 pp | ▲ +1.6%Nifty +0.5% · +1.1 pp | ▼ −0.1%Nifty +2.1% · −2.3 pp | ▲ +4.5%long build-up |
| 18 JulITC Hotels to acquire 130-key hotel in Ahmedabad | ▲ +0.7%Nifty −0.4% · +1.1 pp | ▲ +0.1%Nifty −0.6% · +0.7 pp | ▲ +1.8%Nifty −1.4% · +3.2 pp | 0.0%long build-up |
| 17 JulITC Hotels acquires 100% stake in Ahmedabad hotel | ▲ +0.7%Nifty −0.4% · +1.1 pp | ▲ +0.1%Nifty −0.6% · +0.7 pp | ▲ +1.8%Nifty −1.4% · +3.2 pp | 0.0%long build-up |
| 17 JulITC Hotels acquires 100% stake in Ahmedabad hotel | ▲ +0.5%Nifty +1.1% · −0.6 pp | ▲ +1.2%Nifty +0.7% · +0.5 pp | ▲ +1.5%Nifty −1.3% · +2.7 pp | ▲ +0.4%long build-up |
| 16 JulITC Hotels reports strong Q1 results and acquisition | ▲ +0.5%Nifty +1.1% · −0.6 pp | ▲ +1.2%Nifty +0.7% · +0.5 pp | ▲ +1.5%Nifty −1.3% · +2.7 pp | ▲ +0.4%long build-up |
| 29 JunITC reports 10% business growth with BAT, dividend payout declines | ▼ −1.3%Nifty −0.3% · −0.9 pp | ▼ −0.1%Nifty +0.3% · −0.4 pp | ▼ −0.7%Nifty +1.9% · −2.6 pp | ▲ +5.8%short build-up |
Revenue ₹29,523 cr, +28% on a year earlier; profit ₹4,509 cr, −16% in the Jun 2026 quarter, consolidated.
| Quarter | Revenue ₹ cr | Revenue YoY | Profit ₹ cr | Profit YoY | EPS ₹ | Market on the day |
|---|---|---|---|---|---|---|
| Jun 2026filed 31 Jul | ₹29,523 cr | ▲ +28% | ₹4,509 cr | ▼ −16% | 3.51 | ▲ +2.1%Nifty +1.6% · +0.5 pp |
| Mar 2026filed 21 May · audited | ₹23,821 cr | ▲ +17% | ₹5,470 cr | ▼ −72% | 4.30 | ▼ −2.1%Nifty +0.3% · −2.3 pp |
| Dec 2025filed 29 Jan | ₹21,707 cr | ▲ +6.7% | ₹5,018 cr | ▲ +0.11% | 3.94 | ▲ +1.1%Nifty −0.4% · +1.5 pp |
| Sept 2025filed 30 Oct | ₹21,256 cr | ▼ −4.6% | ₹5,187 cr | ▲ +2.6% | 4.09 | ▲ +0.4%Nifty −0.6% · +1.0 pp |
| Jun 2025filed 1 Aug | ₹23,129 cr | ▲ +15% | ₹5,343 cr | ▲ +3.2% | 4.18 | ▲ +0.1%Nifty +0.6% · −0.5 pp |
| Mar 2025filed 22 May · audited | ₹20,376 cr | ▲ +4.8% | ₹19,808 cr | ▲ +280% | 15.75 | ▲ +2.4%Nifty +1.0% · +1.4 pp |
| Dec 2024filed 6 Feb | ₹20,350 cr | ▲ +4.4% | ₹5,013 cr | ▼ −7.3% | 3.94 | ▼ −2.3%Nifty −0.2% · −2.1 pp |
| Sept 2024filed 24 Oct | ₹22,282 cr | ▲ +16% | ₹5,054 cr | ▲ +1.8% | 3.99 | ▲ +2.3%Nifty −0.9% · +3.1 pp |
| Year | Revenue ₹ cr | Revenue YoY | Profit ₹ cr | Profit YoY | EPS ₹ |
|---|---|---|---|---|---|
| FY26to Mar 2026 | ₹89,913 cr | ▲ +8.3% | ₹21,018 cr | ▼ −40% | 16.51 |
| FY25to Mar 2025 | ₹83,038 cr | ▲ +8.1% | ₹35,052 cr | ▲ +69% | 27.75 |
| FY24to Mar 2024 | ₹76,840 cr | — | ₹20,751 cr | — | 16.38 |
ITC trades at 16 times trailing earnings against 22 for its industry, 4.4 times book value, revenue +12% over twelve months, a 11% dividend yield, market cap ₹3,20,000 cr.
| Stock | Market cap ₹ | P/E | P/B | Close ₹ |
|---|---|---|---|---|
| HINDUNILVRHindustan Unilever Limited | 4,30,000 cron 1 Oct | 29consolidated | 8.8 | ₹1,836.00 |
| ITCITC Limited | 3,20,000 cron 1 Oct | 16consolidated | 4.4 | ₹255.90 |
| HNDFDSHindustan Foods Limited | 7,000 cron 1 Oct | — | 6.0 | ₹574.60 |
| GODAVARIBGodavari Biorefineries Limited | 1,200 cron 1 Oct | — | 1.5 | ₹227.20 |
| DAVANGEREDavangere Sugar Company Limited | 320 cron 1 Oct | — | 0.64 | ₹2.25 |
Foreign portfolio investors hold 11.3%, mutual funds 16.5%, insurance companies 20.8% and banks and financial institutions 11.8%, as filed for the quarter to 30 Jun.
| Category | 30 Jun | 31 Mar | 31 Dec | 30 Sept | 30 Jun |
|---|---|---|---|---|---|
| Foreign portfolio investors | 11.32▼ −0.60 pp | 11.92▼ −1.28 pp | 13.20▼ −1.28 pp | 14.48▼ −0.57 pp | 15.05 |
| Mutual funds | 16.50▼ −0.26 pp | 16.76▲ +0.59 pp | 16.17▲ +1.87 pp | 14.30▲ +0.54 pp | 13.76 |
| Insurance companies | 20.83▲ +0.47 pp | 20.36▲ +0.16 pp | 20.20▼ −0.20 pp | 20.40▼ −0.01 pp | 20.41 |
| Banks and financial institutions | 11.80▼ −0.23 pp | 12.03▼ −0.50 pp | 12.53▼ −0.18 pp | 12.71▼ −0.03 pp | 12.74 |
| Individual investors | 14.93▲ +0.64 pp | 14.29▲ +0.94 pp | 13.35▼ −0.22 pp | 13.57▲ +0.07 pp | 13.50 |
| Bodies corporate | 0.92▼ −0.05 pp | 0.97▲ +0.05 pp | 0.92▲ +0.02 pp | 0.90▲ +0.01 pp | 0.89 |
| Government | 0.040.00 pp | 0.040.00 pp | 0.040.00 pp | 0.040.00 pp | 0.04 |
| Other foreign holders | 22.910.00 pp | 22.910.00 pp | 22.910.00 pp | 22.91▼ −0.02 pp | 22.93 |
| Others | 0.76▲ +0.04 pp | 0.72▲ +0.04 pp | 0.68▼ −0.01 pp | 0.69▲ +0.01 pp | 0.68 |
Nothing upcoming on record; the last was a dividend of ₹8.00 a share, ex-date 27 May 2026.
| Ex-date | Action | Amount or ratio | Record date | Source |
|---|---|---|---|---|
| recent | ||||
| 27 May 2026 | dividend | ₹8.00 | 27 May 2026 | BSE |
| 4 Feb 2026 | dividend | ₹6.50 | 4 Feb 2026 | BSE |
| 28 May 2025 | dividend | ₹7.85 | 28 May 2025 | BSE |
| 12 Feb 2025 | dividend | ₹6.50 | 12 Feb 2025 | BSE |
| 6 Jan 2025 | otherSpin Off | — | 6 Jan 2025 | BSE |
| 4 Jun 2024 | dividend | ₹7.50 | 4 Jun 2024 | BSE |
| 8 Feb 2024 | dividend | ₹6.25 | 8 Feb 2024 | BSE |
ITC is −3.9% over 20 sessions against Nifty's −6.2%, 40% below its 52-week high, realised volatility 19% annualised.
| Window | From ₹ | ITC % | Nifty 50 % | Difference pp |
|---|---|---|---|---|
| 250 sessionssince 26 Sept | ₹405.10 | ▼ −37% | ▼ −9.1% | −28 |
| 120 sessionssince 9 Apr | ₹302.98 | ▼ −16% | ▼ −5.7% | −9.8 |
| 60 sessionssince 8 Jul | ₹280.65 | ▼ −8.8% | ▼ −6.1% | −2.7 |
| 20 sessionssince 2 Sept | ₹266.31 | ▼ −3.9% | ▼ −6.2% | +2.3 |
| 5 sessionssince 24 Sept | ₹267.99 | ▼ −4.5% | ▼ −2.8% | −1.7 |
| 1 sessionsince 30 Sept | ₹262.76 | ▼ −2.6% | ▼ −0.88% | −1.7 |
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