ITC, Godfrey Phillips shares rise up to 2% | What’s driving the rally?
ITC moved higher with September 23 in focus.
23 Sept 2026 · LiveMint Markets, NDTV Profit
ITC and Godfrey Phillips shares rose by 2% on September 23 after ITC increased Gold Flake Premium cigarette prices from ₹125 to ₹135. This marks an 8% hike, contributing to a 17.4% increase since January. Recent tax changes affected cigarette pricing strategies.
Key facts
- Dates in focus
- September 23
The analysis
ITC reported ₹125 and ₹135, with movement of 2%, 8% and 17.4% attached to those lines. Those are the figures as filed — what moves the price is how they sit against what the market already expected, not their absolute size.
Against that, the stock is -1.4% on the day at ₹263.10, and has returned -8.6% over three months. It sits 38% below its 52-week high, which means a good deal of bad news was already in the price. The fmcg sector has moved -9.8% over the same period, so ITC is running 1.2 points ahead of its peers.
For ITC, the question is how much of this is already reflected in the price and how much re-rates the fmcg peer set alongside it.
Market context
- The company directly in focus is ITC.
- Sector exposure: FMCG.
- The immediate tone of coverage reads positive.
In this story
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