ITC shares fall after turning ex-dividend. Good level to buy now?
Edelweiss Wealth believes that ITC share price may go up to ₹450 levels in long-term as the stock has come out of the consolidation phase
ITC share price has been under the sell-off heat after announcement of final dividend of ₹6.25 per share for the financial year 2021-22. ITC share price today opened with a downside gap of around ₹4.50 per share and went on to hit intraday low of ₹263.85 apiece levels, logging near 2.75 per cent dip in early morning deals. In last one week, ITC shares have fallen from around ₹281 to ₹265, descending near 5.50 per cent in this period. However, stock market experts are seeing this dip as an opportunity to buy and accumulate ITC shares for long term. They are expecting this dividend paying stock to go up to ₹340 per share levels in next 12 months.
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