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Consumers are making healthier choices. Acquired Max Protein to capitalise on the protein wave; protein segment is approx ₹1,000-2,000 cr for co’s pdts

Varun Goel, Senior Fund Manager, Mirae Asset Mutual Fund

On Consumption theme

Shares of ITC Ltd. dropped another 4% on Friday, January 2, continuing their downward trend following Thursday’s steep sell-off triggered by the increase in excise duty on cigarettes. Since the morning, ITC has received at least seven downgrades, with significant reductions to price targets.

After broking firm Kotak Institutional Equities reaffirmed its ‘Buy’ recommendation on the stock and maintained a price objective of ₹1,380 per share, shares of PVR Inox Ltd. increased as much as 3% on Friday, January 2.

PB Fintech slips in trade, down over 1% after DFS Secy, RBI comments on insurance commissions.

Devyani International-Sapphire Merger In Focus 

As the Nifty index surged, these were the Nifty’s top contributors, led by Reliance.

Market at the day’s high, broader market indexes are in the green, Nifty is around 80 points away from the record high, and the Nifty Auto & Nifty Metal indices are leading with gains at record highs.

‘Continue to see growth momentum in Q3, might revisit guidance during Q3 results’, says George Alexander Muthoot, of Muthoot Finance to CNBC-TV18

Siddhartha Khemka, Motilal Oswal Financial Services

On ITC

CNBC-TV18 Exclusive | Sudhir Singh, Coforge 

CNBC-TV18 Exclusive | Shweta Jalan, Advent Intl  

Mitessh Thakkar, President – Retail Research, Bonanza Portfolio

The shares of JBM Auto, an electric bus maker, rose by over 5%.

The Nifty Metal index is on the rise, as the markets are blooming in green.

Bansal Wire surges over 6% in early trade, while 3 banking stocks gain over 2% each on Q3 business update impact

Market trades higher; Nifty reclaims 26,200

MCX shares up nearly 2% as trading on ex-stock split begins

Devyani Intl up over 7%, while Sapphire Foods fall nearly 3% on the merger

Sudeep Shah, SBI Securities

Broking firms Nomura, Morgan Stanley, JPMorgan, Jefferies, Motilal Oswal, and Nuvama downgraded shares of ITC Ltd. on Friday, January 2, following the announcement of the cigarette excise duty hike on Thursday, January 1, 2026. Additionally, both brokerages have lowered their respective stock price targets. The stock is currently at its lowest point in three years.

ITC hits 3-year low, down nearly 5% now

Following the lenders’ third-quarter business reports on Thursday after market hours, shares of South Indian Bank Ltd., Indian Bank Ltd., and Punjab and Sind Bank Ltd. increased by more than 2% apiece in early trading on Friday, January 2.

Market opens flat, Nifty opens above 26,150

Rupee Check | Rupee Opens At 89.93/$ Vs Prev Close Of 89.96/$

Abneesh Roy, Nuvama Institutional Equities On CNBC-TV18

Amnish Aggarwal, PL Capital On CNBC-TV18

Profitability For Tobacco Cos Might Take A Hit On Excise Duty Hike

Here are some of the stocks to watch…

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