ITC Q4 Results Preview: Stock Down 2% Ahead Of Earnings; Final Dividend Likely Today

ITC Ltd is set to announce its quarterly earnings for the fourth quarter of FY2025 today, May 22.

In addition to the financial results, the board is also expected to recommend a final dividend, with the record date and dividend amount likely to be disclosed post-announcement.

ITC Share Price Today 
Shares of ITC slipped 2% ahead of the earnings release. On the BSE, the stock opened at Rs 433.45, hit an intraday low of Rs 424.10, and was trading at Rs 425.15 at the time of reporting, down 7.80 or 1.80%.

ITC Q4 Results Preview
According to a technical report by Emkay, ITC is currently trading within a narrow range of Rs 420 to Rs 440. The stock is "hovering around resistance of 440", the brokerage noted.
There has been a visible long build-up in the derivatives segment, indicating bullish sentiment. Open interest (OI) has surged 72.5% along with a 4.9% price rise since the beginning of the expiry cycle. The total OI stands at $892 million, above its 1-year average by +2.64 standard deviations, the Emkay report added.

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Moreover, option data indicates maximum call and put OI at the 440 and 430 strike prices, respectively, with fresh additions of 223 call lots at 440 and 173 put lots at 425.
 

Volatility Watch: Options Pricing Relatively Cheap
The 1-month implied volatility (IV) spread for ITC compared to the NIFTY is slightly lower than the historical average. The spread currently sits at 6.6 IV compared to a historical average of 10.3 IV—a possible sign that traders are not expecting a sharp post-results move, according to Emkay.

ITC Share Price History
Despite a long-term uptrend, ITC has seen weakness in recent months. Over the past decade, the stock has gained 105.14%, and in the last five years, it is up 141.17%. However, in the past year, it has delivered a modest 2.20% return. In the short term, the stock is down 5.40% in six months, 6.02% over the last three months, and 1.97% in the past month. In the last week alone, the stock has declined 1.69%.

ITC Dividend 2025
Investors will also be keenly awaiting the final dividend announcement, which has become a key factor in ITC's stockholder returns strategy. The record date and the amount may be revealed along with today’s financial results.