ITC Shares Surge 3% Following Q1 Results and Brokerage Upgrades

ITC stock rose nearly 3% after the company reported its Q1 results, with brokerages suggesting that the impact of tobacco tax hikes is beginning to ease.

Despite a reported decline in profit, analysts from Nomura and other firms have upgraded the stock to 'Buy' based on an improving outlook for the core business.

The company's performance is being closely monitored as it navigates regulatory pressures and seeks to maintain its market share in the tobacco segment.