Essential Market Terminology

ITC Ltd · already listed19 Oct 2026Real data

Secondary market

Issuer1

ITC Ltd

Instrument2

Equity share · face value ₹1

Shares issued

1,253.05 crore

Exchanges3

NSE and BSE

Symbol · series4

ITC · EQ India

Last price5

₹260.80

Jio Platforms · IPOOpens 21 Oct 2026Real data

Primary market

Price band6

₹1,065–1,119

Issue

100% fresh · 27 crore shares

Size at the cap

≈ ₹30,213 crore

Lot · minimum7

12 shares · ₹13,428 derived

Bidding

21 Oct 2026 – 23 Oct 2026

Listing8

on or about Wed 28 Oct 2026

Broker Sahi (Aaritya Broking Private Limited, SEBI INZ000317632)9Regulator SEBI10

1Issuer

ITC Ltdreal

ITC issued these shares long ago. Today's trades are between investors; ITC receives nothing from them.

The issuer is the organisation that creates and sells a security: ITC Ltd for ITC shares, Jio Platforms Ltd for its new IPO shares. An investor commits money to assets, often for years. A trader buys and sells, usually to gain from price moves. A trader who holds shares is still a shareholder.

1. Pin 1, Issuer: ITC Ltd. ITC issued these shares long ago. Today's trades are between investors; ITC receives nothing from them.
2. Pin 2, Equity share: 1,253.05 crore shares · face value ₹1. A security is a tradable financial instrument such as a share or a bond; the exact legal meaning depends on the country. Equity, or stock, is ownership in a company. A share is one unit of that ownership. ITC has about 1,253.05 crore shares, each with a face value of Re 1.
3. Pin 3, Exchange: NSE and BSE. Where buy and sell orders meet. ITC trades on both NSE and BSE.
4. Pin 4, Symbol, ticker and series: ITC · EQ. Listing is admission to trading on an exchange; Jio Platforms expects to list on or about 28 Oct 2026. A symbol or ticker names a traded instrument: ITC on NSE, AAPL for Apple on Nasdaq. India: NSE also shows a series such as EQ after the symbol. Always check the company name, exchange and share class too: ITC and ITCHOTELS are two different companies. A symbol says nothing about the future price.
5. Pin 5, Secondary market: ₹260.80 · close, 19 Oct 2026. Existing shares changing hands between investors. The price is set by those trades.
6. Pin 6, Primary market · IPO: ₹1,065–1,119 a share. New shares sold for the first time: 27 crore fresh shares, about ₹30,213 crore at the top of the band. The money goes to Jio Platforms.
7. Pin 7, Lot and minimum application: 12 shares · ₹13,428. An IPO is applied for in lots. Jio Platforms' lot is 12 shares, so the smallest application at the top of the band is 12 × ₹1,119 = ₹13,428 (derived). On the exchange after listing, a cash share can be bought one at a time.
8. Pin 8, Listing: about Wed 28 Oct 2026. The day the new shares start trading on NSE and BSE. From then on they are in the secondary market, like ITC.
9. Pin 9, Broker: Sahi · INZ000317632. Aaritya Broking Private Limited, trading as Sahi, sends Mr. Chartist's orders to NSE and BSE (member codes 90375 and 6867).
10. Pin 10, Regulator: SEBI. The Securities and Exchange Board of India sets and enforces the market's rules in India.

1. 1IssuerITC Ltd

   real

   ITC issued these shares long ago. Today's trades are between investors; ITC receives nothing from them.

   The issuer is the organisation that creates and sells a security: ITC Ltd for ITC shares, Jio Platforms Ltd for its new IPO shares. An investor commits money to assets, often for years. A trader buys and sells, usually to gain from price moves. A trader who holds shares is still a shareholder.

2. 2Equity share1,253.05 crore shares · face value ₹1
3. 3ExchangeNSE and BSE
4. 4Symbol, ticker and seriesITC · EQ
5. 5Secondary market₹260.80 · close, 19 Oct 2026
6. 6Primary market · IPO₹1,065–1,119 a share
7. 7Lot and minimum application12 shares · ₹13,428
8. 8Listingabout Wed 28 Oct 2026
9. 9BrokerSahi · INZ000317632
10. 10RegulatorSEBI

SourceNSE full bhavcopy, 19 Oct 2026 (ITC close); ITC shareholding filing, 30 Sep 2026; Jio Platforms offer document (band, lot, dates). The ₹13,428 minimum is 12 × ₹1,119, derived.

NasdaqAAPL · dailyMon 19 Oct 2026Real data

• High2346.00
• Prev close5343.46
• Close4342.94
• Open1340.78
• Low3340.12

−0.52 (−0.15%)derived6

Day range and 52 weeks7

243.42 · 20 Jan 2026348.15 · 13 Oct 202699.52 above the low · 1.5% below the high derived · as of 19 Oct

LTP8

342.94

Tick9

0.01

Bid / ask10

342.93 / 342.94 illustration

Time11

4:00 pm ET close

1Open

$340.78real

The first price of the regular session.

A session's opening price, highest trade, lowest trade and closing price. ITC on 19 Oct 2026: open 262.70, high 263.90, low 259.95, close 260.80. India: the open came from NSE's pre-open auction (9:00 to 9:15 am), and the close from the closing auction that has run since 3 Aug 2026 for stocks with futures and options, such as ITC (derived from the exchange rules). So open and close are not simply the first and last trades.

1. Pin 1, Open: $340.78. The first price of the regular session.
2. Pin 2, High: $346.00. The highest trade of the session.
3. Pin 3, Low: $340.12. The lowest trade of the session.
4. Pin 4, Close: $342.94. The official close of the regular session.
5. Pin 5, Previous close: $343.46. Friday 16 Oct's close: the reference for Monday's change.
6. Pin 6, Change: −0.52 (−0.15%). 342.94 − 343.46.
7. Pin 7, Range and 52-week high/low: 5.88 · 243.42–348.15. Apple (AAPL) on Nasdaq, 19 Oct 2026: open $340.78, high $346.00, low $340.12, close $342.94, volume 34,573,181 shares. The previous close was $343.46, so the change was −$0.52, or −0.15% (derived). Its 52-week high was $348.15 (13 Oct 2026) and low $243.42 (20 Jan 2026), from Yahoo Finance chart data. Same words, different currency and exchange rules.
8. Pin 8, LTP · last traded price: $342.94. Shown here is Apple's official close. On a live screen the LTP is the latest trade; Nasdaq sets its official close in a closing auction, so the two can differ.
9. Pin 9, Tick size: $0.01. US shares priced at $1 or more are generally quoted in one-cent steps (SEC Rule 612); newer SEC rules allow half-cent steps for some very actively traded shares, so check the current rule.
10. Pin 10, Bid, ask and spread: $342.93 / $342.94. Illustration on real price levels: a best bid of 342.93 and a best ask of 342.94 would be a spread of one cent. Past quotes are not published.
11. Pin 11, Quote time: Close · 19 Oct · 4:00 pm ET. When the data was recorded, and whether the feed is live or delayed. A close dated 19 Oct 2026 is a finished record, not a live price. Check the currency, trading unit, session and data source before comparing two screens.

1. 1Open$340.78

   real

   The first price of the regular session.

   A session's opening price, highest trade, lowest trade and closing price. ITC on 19 Oct 2026: open 262.70, high 263.90, low 259.95, close 260.80. India: the open came from NSE's pre-open auction (9:00 to 9:15 am), and the close from the closing auction that has run since 3 Aug 2026 for stocks with futures and options, such as ITC (derived from the exchange rules). So open and close are not simply the first and last trades.

2. 2High$346.00
3. 3Low$340.12
4. 4Close$342.94
5. 5Previous close$343.46
6. 6Change−0.52 (−0.15%)
7. 7Range and 52-week high/low5.88 · 243.42–348.15
8. 8LTP · last traded price$342.94
9. 9Tick size$0.01
10. 10Bid, ask and spread$342.93 / $342.94
11. 11Quote timeClose · 19 Oct · 4:00 pm ET

SourceStock Analysis (AAPL daily history, 19 Oct 2026); Yahoo Finance chart data (52-week range). Change and range are derived. Bid and ask are an illustration.

ITC · EQ · day record19 Oct 2026Real data

SYMBOL, SERIES, DATE1, PREV_CLOSE, OPEN_PRICE, HIGH_PRICE, LOW_PRICE, LAST_PRICE, CLOSE_PRICE, AVG_PRICE, TTL_TRD_QNTY, TURNOVER_LACS, NO_OF_TRADES, DELIV_QTY, DELIV_PER
ITC, EQ, 19-Oct-2026, 263.50, 262.70, 263.90, 259.95, 260.80, 260.80, 261.40, 11528925, 30136.39, 93161, 6131218, 53.18

Traded qty1TTL_TRD_QNTY

1,15,28,925

Turnover ₹ lakh2TURNOVER_LACS

30,136.39

No. of trades3NO_OF_TRADES

93,161

Avg price4AVG_PRICE

261.40

High − low6HIGH − LOW

3.95 derived

Delivery India5

Delivered 61,31,218 · 53.18%Bought and sold the same day 46.82% derived

Shares counted vs money counted7

Shares tradedITC1.15 croreMRF2,209

Money tradedITC₹301 crMRF₹27 cr

Depth: what is waiting to trade8Slippage: the gap between expected and actual price9

On Nasdaq the same day, Apple traded 34,573,181 shares (Stock Analysis). Turnover, trades and delivery for Apple are not published here; delivery percentage is an India-only figure.

1Volume

1,15,28,925 sharesreal

The quantity traded in a stated period. ITC's NSE volume on 19 Oct 2026 was 1,15,28,925 shares, about 1.15 crore; Apple's on Nasdaq was 34,573,181. A trade of 10 shares adds 10 to volume, not 20 for the buyer and the seller. Derivatives volume may count contracts or units, so check the unit.

1. Pin 1, Volume: 1,15,28,925 shares. The quantity traded in a stated period. ITC's NSE volume on 19 Oct 2026 was 1,15,28,925 shares, about 1.15 crore; Apple's on Nasdaq was 34,573,181. A trade of 10 shares adds 10 to volume, not 20 for the buyer and the seller. Derivatives volume may count contracts or units, so check the unit.
2. Pin 2, Turnover: ₹30,136.39 lakh = ₹301.36 crore. The lakh figure is NSE's; the crore conversion is ours (derived).
3. Pin 3, Number of trades: 93,161. How many separate trades made up the volume. ITC had 93,161 trades on NSE on 19 Oct, an average of about 124 shares a trade (derived). Many small trades and a few large ones can give the same volume.
4. Pin 4, VWAP · average price: 261.40. Check: ₹30,136.39 lakh ÷ 1,15,28,925 shares = 261.40 (derived).
5. Pin 5, Delivery percentage: 53.18%. Deliverable quantity divided by traded quantity × 100. For ITC on 19 Oct: 61,31,218 ÷ 1,15,28,925 × 100 = 53.18%, as NSE reports. The rest was bought and sold within the day. It does not show who bought, why, or where the price goes next.
6. Pin 6, Volatility: 3.95 high − low. How much a price moves in a stated period. ITC's range on 19 Oct was 3.95, about 1.5% of the previous close (derived). Volatility is not the same as liquidity or permanent loss. A busy share can swing a lot; a rarely traded share can show few price changes and still be hard to sell.
7. Pin 7, Liquidity. Shares counted against money counted: ITC traded about ₹301 crore; MRF, at ₹1,21,905 a share, traded only 2,209 shares, yet NSE puts its turnover at ₹2,700.35 lakh, about ₹27.00 crore (conversion derived).
8. Pin 8, Order book and market depth. Not in the day record: the exchange does not publish past order books. This is a drawing on ITC's real tick.
9. Pin 9, Price impact and slippage. Price impact is how much your own order moves the prices on offer. Slippage is the gap between the price you expected and the price you got. Both can change a result even when the chart looks calm.

1. 1Volume1,15,28,925 shares

   real

   The quantity traded in a stated period. ITC's NSE volume on 19 Oct 2026 was 1,15,28,925 shares, about 1.15 crore; Apple's on Nasdaq was 34,573,181. A trade of 10 shares adds 10 to volume, not 20 for the buyer and the seller. Derivatives volume may count contracts or units, so check the unit.

2. 2Turnover₹30,136.39 lakh = ₹301.36 crore
3. 3Number of trades93,161
4. 4VWAP · average price261.40
5. 5Delivery percentage53.18%
6. 6Volatility3.95 high − low
7. 7Liquidity
8. 8Order book and market depth
9. 9Price impact and slippage

SourceNSE full bhavcopy, 19 Oct 2026 (ITC and MRF rows). Lakh-to-crore conversions and the VWAP check are derived. Apple's volume: Stock Analysis.

MarketLimitSL-LSL-M

NasdaqAAPL · tick $0.0119 Oct 2026Real prices · illustrative orders

Traded on 19 Oct (340.12–346.00)Order: Buy 10 shares1Validity: Day6GTTIndia7AMOIndia8

1. 346.00traded on 19 OctHigh
2. ⋮ 305 steps
3. 342.94traded on 19 OctClose10
4. ⋮ 193 steps
5. 341.00traded on 19 Oct
6. ⋮ 19 steps
7. 340.80traded on 19 Oct
8. ⋮ 1 step
9. 340.78traded on 19 OctOpen9
10. ⋮ 27 steps
11. 340.50traded on 19 OctYour buy limit · waits here3
12. ⋮ 37 steps
13. 340.12traded on 19 OctLowPrice reached this low: the limit was touched
14. ⋮ 11 steps
15. 340.00

3Limit order

$340.50 buyillustration

Waits at 340.50. Apple's low of 340.12 shows prices below the limit did trade that day.

Trades only at its limit price or better. A buy limit at 260.00 can fill at 260.00 or lower; a sell limit at 260.00 can fill at 260.00 or higher. On 19 Oct ITC traded as low as 259.95, so 260.00 did trade that day. That still does not prove an illustrative 10-share buy limit filled: orders at the same price wait in time order.

1. Pin 1, Order and partial fill: 10 shares. An order is an instruction to buy or sell. An execution, or fill, is a completed trade against a matching order. A partial fill means only part of the quantity traded; what happens to the rest depends on the order's conditions.
2. Pin 2, Market order. Trades at the best price on offer when it arrives. $342.94 was the last trade, not the price a market order is promised.
3. Pin 3, Limit order: $340.50 buy. Waits at 340.50. Apple's low of 340.12 shows prices below the limit did trade that day.
4. Pin 4, Trigger price · SL-L: $341.00 / $340.80. A sell stop-limit: when a trade happens at 341.00 or below, a limit sell at 340.80 is sent.
5. Pin 5, SL-M in a fast fall: $341.00. After the trigger, a stop-market order sells at whatever bids are there. On 1 Jan 2026 ITC opened at 402.70 and fell as low as 362.70 within the day (NSE): in a fall that fast, a stop at 390 can fill well below 390.
6. Pin 6, Day order and IOC: Validity: Day. A day order is valid for that trading day; any unfilled quantity is cancelled at the end. IOC, immediate or cancel, fills whatever it can at once and cancels the rest. A cancel or change request can arrive after a fill, so always check it was confirmed.
7. Pin 7, GTT. GTC, good till cancelled, is a longer-lasting order where it is supported, within the provider's limits. India: GTT, good till triggered, is held by the broker and sent to the exchange only when its condition is met. It has its own expiry and is not an order already waiting at the exchange.
8. Pin 8, AMO. India: an AMO, after-market order, is accepted outside trading hours and sent later. Being accepted does not mean it will fill at the next open. Disclosed quantity shows only part of an eligible order to the market; the hidden part is still part of the order.
9. Pin 9, Pre-open auction: $340.78. Apple's opening price on Nasdaq; the US uses its own opening cross.
10. Pin 10, Closing auction: $342.94. Apple's official close on Nasdaq comes from its closing cross.

1. 1Order and partial fill10 shares
2. 2Market order
3. 3Limit order$340.50 buy

   illustration

   Waits at 340.50. Apple's low of 340.12 shows prices below the limit did trade that day.

   Trades only at its limit price or better. A buy limit at 260.00 can fill at 260.00 or lower; a sell limit at 260.00 can fill at 260.00 or higher. On 19 Oct ITC traded as low as 259.95, so 260.00 did trade that day. That still does not prove an illustrative 10-share buy limit filled: orders at the same price wait in time order.

4. 4Trigger price · SL-L$341.00 / $340.80
5. 5SL-M in a fast fall$341.00
6. 6Day order and IOCValidity: Day
7. 7GTT
8. 8AMO
9. 9Pre-open auction$340.78
10. 10Closing auction$342.94

SourcePrice levels: Stock Analysis (AAPL, 19 Oct 2026). Order prices and the 10-share quantity are illustrations; past order books are not published.

HoldingSold 10 on 16 Oct

Holdings · Mr. Chartist · as laid out in a broker appClose · 19 Oct 2026Real prices · illustrative holding

Invested

5,566.50

Current

5,216.00

Total P&L3

−350.50 −6.30%

Day's P&L6

−54.00 −1.02%

Holdings (1)Positions

Qty. 201·Avg. 278.332−6.30%ITCDelivery8−350.50Invested 5,566.50LTP 260.80 (−1.02%)

Realised P&L · this year40.00

1. Buy 10@ 301.6526 May 2026 close
2. Buy 10@ 255.008 Oct 2026 close

Break-even: 278.33 + charges5Exit = square-off7Short: none India9

1Position · long

20 ITC sharesillustration

A position is the exposure your trades create. Quantity, or position size, is the number of shares, units or contracts. Long usually means you bought or hold; short means you sold first and owe delivery. In cash shares, a long gains when the price rises and a short gains when it falls. In options, long means bought and short means written; which way the contract gains depends on the contract.

1. Pin 1, Position · long: 20 ITC shares. A position is the exposure your trades create. Quantity, or position size, is the number of shares, units or contracts. Long usually means you bought or hold; short means you sold first and owe delivery. In cash shares, a long gains when the price rises and a short gains when it falls. In options, long means bought and short means written; which way the contract gains depends on the contract.
2. Pin 2, Average price: ₹278.33 (278.325 rounded). Total cost divided by quantity. Illustration: 10 shares at 301.65 cost ₹3,016.50 and 10 at 255.00 cost ₹2,550.00, so 20 shares cost ₹5,566.50 and the average is ₹278.33 (278.325, derived), before charges. Buying more to lower the average also makes the position bigger.
3. Pin 3, Unrealised P&L: −₹350.50. 20 × (260.80 − 278.325).
4. Pin 4, Realised P&L: ₹0.00 · nothing sold. Choose “Sold 10 on 16 Oct” to see a realised result.
5. Pin 5, Break-even: ₹278.33 + charges. The price at which the result is zero. The average price of ₹278.33 leaves out charges, so it is not the full break-even. Add the buying and selling costs to find the real one. Dividends received are a separate part of total return.
6. Pin 6, MTM and day's P&L: −₹54.00. Only today's move: 20 × −2.70.
7. Pin 7, Square-off. Closing a position with the opposite trade. Selling the shares here would square off the holding.
8. Pin 8, Intraday vs delivery: Delivery. Intraday means opened and closed in the same trading day. Delivery means a cash-share trade that settles into or out of your holdings. Carry-forward means keeping an exposure past the session, where allowed. On 19 Oct, 53.18% of ITC's traded quantity was marked for delivery (NSE); the rest was closed within the day. India: a broker's product codes set its processing rules; they never guarantee a profit.
9. Pin 9, Short selling. A short sale in cash shares creates a duty to deliver shares. Closing it the same day is one way to meet that duty. Securities lending and borrowing can also supply shares for delivery, under its own rules. India: naked short selling is not allowed. Do not assume every overnight short is allowed, or that all short selling must be intraday.

1. 1Position · long20 ITC shares

   illustration

   A position is the exposure your trades create. Quantity, or position size, is the number of shares, units or contracts. Long usually means you bought or hold; short means you sold first and owe delivery. In cash shares, a long gains when the price rises and a short gains when it falls. In options, long means bought and short means written; which way the contract gains depends on the contract.

2. 2Average price₹278.33 (278.325 rounded)
3. 3Unrealised P&L−₹350.50
4. 4Realised P&L₹0.00 · nothing sold
5. 5Break-even₹278.33 + charges
6. 6MTM and day's P&L−₹54.00
7. 7Square-off
8. 8Intraday vs deliveryDelivery
9. 9Short selling

SourceNSE bhavcopies for 26 May, 8 Oct, 16 Oct and 19 Oct 2026 (closes 301.65, 255.00, 263.50, 260.80). The holding and the sale are illustrations; every P&L figure is derived and leaves out charges and tax.

ITC · 52 weeks · dated marks31 Oct 2025 – 19 Oct 2026Real data

Max drawdown1-40.6%derived+68.4% to recover derived

ITC dated prices, NSE

Date	Price (₹)	What it is
31 Oct 2025	426.40	52-week high
31 Dec 2025	403.00	Close before the gap
1 Jan 2026	363.85	Close, −9.71% in one day2
26 May 2026	301.65	Close before the ex-date
27 May 2026	295.65	Ex-dividend open
8 Oct 2026	253.15	52-week low
19 Oct 2026	260.80	Close

One ITC futures lot3

1,725 × ₹261.80 = ₹4,51,605 derived

The margin needed is set by the exchange and broker and is not shown here.

Leverage, the arithmetic4

Margin₹10,000Exposure₹50,000

A 2% move = ₹1,000 = 10% of the margin teaching assumption

Margin call5Risk-reward6Concentration7

1Drawdown

-40.6%derived

From 426.40 to 253.15. Climbing back needs +68.4% (derived).

The fall from a previous peak. ITC fell from 426.40 (31 Oct 2025) to 253.15 (8 Oct 2026): a drawdown of 40.6% (derived, on NSE's adjusted 52-week prices, dividends not added). To climb back to the peak from that low needs a rise of 68.4% (derived): a fall needs a bigger rise to recover. State whether deposits, withdrawals and costs are included.

1. Pin 1, Drawdown: -40.6%. From 426.40 to 253.15. Climbing back needs +68.4% (derived).
2. Pin 2, Fast fall and gap risk: 403.00 → 363.85 · −9.71%. Not a gap at the open: ITC opened at 402.70, almost at the previous close, then fell to 362.70 within the day (NSE). A gap skips prices with no trades in between, like the ex-dividend open of 27 May. Both can push a stop's fill well below its trigger.
3. Pin 3, Exposure: ₹4,51,605 per lot. 1,725 shares × ₹261.80, the ITC October futures close on 19 Oct.
4. Pin 4, Leverage and margin: ₹10,000 → ₹50,000. One ITC futures lot is 1,725 shares, so at the October futures close of 261.80 on 19 Oct it controls ₹4,51,605 of exposure (derived). A 2% move against it is ₹9,032.10 (derived). The margin is set by the exchange and broker and is not shown here. Teaching assumption: ₹10,000 of margin controlling ₹50,000 of exposure loses ₹1,000 on a 2% move, which is 10% of the money put in. Gains are magnified the same way.
5. Pin 5, Margin call. A margin call asks for more money or collateral. If it is not met, the position can be closed under the rules. With some products you can lose more than you first put in; an option buyer and an option writer carry very different obligations.
6. Pin 6, Risk-reward: ₹60 : ₹120. The risk-reward ratio compares a planned loss with a planned gain; how likely each is remains a separate question. Teaching assumption: risking ₹60 to aim for ₹120 is a 1:2 plan, not proof the target will be hit. Liquidity risk, credit risk and currency risk are about getting out, getting paid and exchange-rate moves.
7. Pin 7, Concentration. Diversification spreads money across different assets or sources of risk. Concentration means a lot of money in one asset or one related group. Correlation is how two things tend to move together, and it can change. Diversification reduces some risks, not every loss.

1. 1Drawdown-40.6%

   derived

   From 426.40 to 253.15. Climbing back needs +68.4% (derived).

   The fall from a previous peak. ITC fell from 426.40 (31 Oct 2025) to 253.15 (8 Oct 2026): a drawdown of 40.6% (derived, on NSE's adjusted 52-week prices, dividends not added). To climb back to the peak from that low needs a rise of 68.4% (derived): a fall needs a bigger rise to recover. State whether deposits, withdrawals and costs are included.

2. 2Fast fall and gap risk403.00 → 363.85 · −9.71%
3. 3Exposure₹4,51,605 per lot
4. 4Leverage and margin₹10,000 → ₹50,000
5. 5Margin call
6. 6Risk-reward₹60 : ₹120
7. 7Concentration

SourceNSE 52-week file, 19 Oct 2026 (adjusted high and low); NSE bhavcopies for 1 Jan, 26 May, 27 May, 8 Oct and 19 Oct 2026; NSE F&O bhavcopy, 19 Oct 2026 (lot 1,725, October futures 261.80). Percentages and exposure are derived; margin and risk-reward figures are teaching assumptions.

As tradedAdjusted

ITC · demerger of ITC HotelsJan 2025Real data

As traded1

As traded: a drop of 26.00 at the open derived, mostly value moving into the new company, ITC Hotels.

Price bands, 19 Oct 2026India2

ITCNo band · has futures and options

ITC Hotels · 20% bandOn the 158.50 close: 126.80 to 190.20 derived

How a 20% band works, worked on the close. The exchange sets each day's band from its own reference price.

Chart wordsShape sketch, not ITC data

Range3Breakout4Trend5Bull / bear6

1Corporate-action adjustment

26.00 at the openderived

After a split, bonus, dividend or demerger, past prices may be adjusted so charts compare like with like. Real case: ITC Hotels was demerged with record date 6 Jan 2025, 1 ITC Hotels share for every 10 ITC shares. ITC closed at 481.60 on 3 Jan 2025; on 6 Jan a special pre-open found a price of 455.60, and it closed at 442.65 (NSE). An unadjusted chart shows a drop of 26.00 at the open (derived) that was mostly value moving into the new company. Check the event before blaming news.

1. Pin 1, Corporate-action adjustment: 26.00 at the open. After a split, bonus, dividend or demerger, past prices may be adjusted so charts compare like with like. Real case: ITC Hotels was demerged with record date 6 Jan 2025, 1 ITC Hotels share for every 10 ITC shares. ITC closed at 481.60 on 3 Jan 2025; on 6 Jan a special pre-open found a price of 455.60, and it closed at 442.65 (NSE). An unadjusted chart shows a drop of 26.00 at the open (derived) that was mostly value moving into the new company. Check the event before blaming news.
2. Pin 2, Price band · circuit: ITC: no band · ITC Hotels: 20%. India: a price band limits how far a share may trade from its reference price in a day. NSE's list for 19 Oct 2026 shows ITC with no fixed band, because it has futures and options, and ITC Hotels with a 20% band. Illustration of how a 20% band works: around ITC Hotels' close of 158.50 it would be 126.80 to 190.20 (derived); NSE sets each day's actual band from its own reference price. Near a band there may be few matching orders. A band is not a fair value and does not promise an exit.
3. Pin 3, Range, support and resistance. Consolidation is when price moves inside a fairly narrow band. Support and resistance are areas where buying or selling held the price before. They are observations, not walls that must hold.
4. Pin 4, Breakout. A breakout or breakdown is a move beyond a marked upper or lower boundary. A retest is a later return toward that boundary. Volume adds context; no volume pattern proves the move will continue.
5. Pin 5, Trend. A trend is a lasting direction over a stated timeframe. Higher highs and higher lows are one way to describe an uptrend; lower highs and lower lows describe a downtrend. A short-term trend can run against a longer one.
6. Pin 6, Bullish and bearish. Bullish and bearish mean expecting a rise or a fall in a stated asset and timeframe. A bull or bear market is a broader rising or falling phase; definitions vary. These are descriptions or opinions, not outcomes.

1. 1Corporate-action adjustment26.00 at the open

   derived

   After a split, bonus, dividend or demerger, past prices may be adjusted so charts compare like with like. Real case: ITC Hotels was demerged with record date 6 Jan 2025, 1 ITC Hotels share for every 10 ITC shares. ITC closed at 481.60 on 3 Jan 2025; on 6 Jan a special pre-open found a price of 455.60, and it closed at 442.65 (NSE). An unadjusted chart shows a drop of 26.00 at the open (derived) that was mostly value moving into the new company. Check the event before blaming news.

2. 2Price band · circuitITC: no band · ITC Hotels: 20%
3. 3Range, support and resistance
4. 4Breakout
5. 5Trend
6. 6Bullish and bearish

SourceNSE bhavcopies, 3 and 6 Jan 2025; demerger ratio and record date from the exchange filing as reported by Outlook Business; NSE security list, 19 Oct 2026 (price bands). The 26.00 and the 126.80–190.20 band are derived.

Final ₹8Interim ₹6.50

ITC · final dividend1FY 2025-26Real data

301.65Cum · 26 May 2026 close

open gap 6.00dividend ₹8

295.65Ex · 27 May 2026 open

The share opened 6.00 lower derived against an ₹8 dividend. Axis from 290.

Recommended 21 MayEx and record 27 May2AGM 23 JulPaid 24–29 Jul 20263

Who owns ITC · 30 Sep 2026

Promoter6

None India

Largest holder

BAT group · 22.91%

Shareholders

42,18,619

Shares5

1,253.05 crore

Face · book value4

₹1 · ₹57.9

2025-26 dividends

₹6.50 + ₹8 = ₹14.50

Split or bonus7

Not part of this example

1Dividend

₹8 finalreal

A payment to eligible shareholders, usually cash per share. It is never assured. ITC paid ₹6.50 interim and ₹8 final for 2025-26, ₹14.50 in all. Illustration: 100 shares eligible for both get ₹1,450 before tax (derived). Do not confuse a percentage of face value with yield: ₹8 is 800% of ITC's Re 1 face value, but only about 3.07% of its 260.80 price (derived).

1. Pin 1, Dividend: ₹8 final. A payment to eligible shareholders, usually cash per share. It is never assured. ITC paid ₹6.50 interim and ₹8 final for 2025-26, ₹14.50 in all. Illustration: 100 shares eligible for both get ₹1,450 before tax (derived). Do not confuse a percentage of face value with yield: ₹8 is 800% of ITC's Re 1 face value, but only about 3.07% of its 260.80 price (derived).
2. Pin 2, Record date and ex-date: 27 May 2026. The record date decides who is eligible. From the ex-date, a buyer no longer gets the announced benefit. Cum means the share still trades with it. Real case: for ITC's ₹8 final dividend the record date was 27 May 2026, and NSE's circular set the ex-date as the same day. ITC closed at 301.65 on 26 May and opened at 295.65 on 27 May, 6.00 lower against an ₹8 dividend (derived): prices move for many reasons. Always read the official notice.
3. Pin 3, Dividend dates in order. ITC's final dividend for 2025-26: recommended on 21 May 2026, record date and ex-date 27 May 2026, approved at the AGM on 23 Jul 2026, paid from 24 to 29 Jul 2026. The interim of ₹6.50 went ex on 4 Feb 2026, and NSE cut ITC's option strikes by 6.50 that day: a 325 Call became a 318.50 Call.
4. Pin 4, Face value vs book value: ₹1 · ₹57.9. Face value is a share's nominal value on paper: Re 1 for ITC, far below its market price of 260.80. Book value is an accounting measure of net assets; ITC's consolidated book value is about ₹57.9 a share (Screener). Neither is what you would get if you sold or the company closed.
5. Pin 5, Outstanding shares: 1,253.05 crore. Outstanding shares are the shares held by shareholders: about 1,253.05 crore for ITC (shareholding filing, 30 Sep 2026). Authorised capital is the ceiling the company's documents allow. Issued shares are those the company has actually issued; how bought-back shares are treated varies.
6. Pin 6, Promoter holding: None · BAT group 22.91%. India: promoter holding is the stake of the founding or controlling group, as classified under the rules. ITC is unusual: it has no promoter. Its largest holder is the BAT group with 22.91%, and it had 42,18,619 shareholders (30 Sep 2026 filing). Public shareholding is a disclosure category, not the same as free float. FPI means foreign portfolio investor (the older term was FII); DII means domestic institutional investor. Who owns a company is context, not proof of future returns.
7. Pin 7, Split and bonus. A split divides each share into more shares. Illustration: in a 2-for-1 split, 100 shares at ₹200 become 200 shares at ₹100, still ₹20,000 before the market moves. A bonus issue gives extra shares to eligible holders free. A buyback is the company buying its own shares on stated terms. Dilution is when new shares lower an existing holder's percentage.

1. 1Dividend₹8 final

   real

   A payment to eligible shareholders, usually cash per share. It is never assured. ITC paid ₹6.50 interim and ₹8 final for 2025-26, ₹14.50 in all. Illustration: 100 shares eligible for both get ₹1,450 before tax (derived). Do not confuse a percentage of face value with yield: ₹8 is 800% of ITC's Re 1 face value, but only about 3.07% of its 260.80 price (derived).

2. 2Record date and ex-date27 May 2026
3. 3Dividend dates in order
4. 4Face value vs book value₹1 · ₹57.9
5. 5Outstanding shares1,253.05 crore
6. 6Promoter holdingNone · BAT group 22.91%
7. 7Split and bonus

SourceITC investor page (final dividend 2025-26); NSE circular NSE/FAOP/74416 (ex-date); NSE bhavcopies 26 and 27 May 2026; Zerodha bulletin on the interim adjustment; ITC shareholding filing, 30 Sep 2026; Screener (book value). The 6.00 gap is derived.

ITC · valuation · FY2025-26Close · 19 Oct 2026Real data

Market value1

≈ ₹3,26,795 cr derived

EPS2

₹16.52

Net profit3

₹21,018.15 cr

Revenue

₹89,913.33 cr

ITCNifty 50Nifty FMCG

P/E415.819.3330.39

P/B54.52.817.30

Dividend yield65.56%1.50%2.62%

Enterprise value: needs cash, not shown7ITC's three figures are derived derived

1Market capitalisation

≈ ₹3,26,795 crorederived

1,253.05 crore shares × ₹260.80 = ₹3,26,795 crore, about ₹3.27 lakh crore.

Share price × outstanding shares. It measures the market value of the equity, not sales, assets or the cost of buying the whole business. A low share price does not mean a small or cheap company.

1. Pin 1, Market capitalisation: ≈ ₹3,26,795 crore. 1,253.05 crore shares × ₹260.80 = ₹3,26,795 crore, about ₹3.27 lakh crore.
2. Pin 2, EPS · earnings per share: ₹16.52. FY2025-26, consolidated, basic. The naive sum, profit ÷ today's shares, gives 16.77 (derived): a different figure.
3. Pin 3, Net profit and revenue: ₹21,018.15 cr · ₹89,913.33 cr. Revenue is income from sales or services. Expenses are costs. Net profit is what remains after them. Cash flow tracks cash in and out, which can differ from profit. ITC's FY2025-26 consolidated revenue from operations was ₹89,913.33 crore and its net profit ₹21,018.15 crore.
4. Pin 4, P/E · price to earnings: 15.8. 260.80 ÷ 16.52 = 15.8. Nifty 50: 19.33; Nifty FMCG: 30.39 (NSE).
5. Pin 5, P/B · price to book: 4.5. 260.80 ÷ 57.9 = 4.5. Nifty 50: 2.81; Nifty FMCG: 7.30 (NSE).
6. Pin 6, Dividend yield: 5.56%. ₹14.50 ÷ 260.80 × 100 = 5.56%. Nifty 50: 1.50%; Nifty FMCG: 2.62% (NSE).
7. Pin 7, EV · enterprise value: Not worked out. Borrowings of about ₹2,399 crore are known, but cash is not checked here. EV needs cash, so no EV is shown.

1. 1Market capitalisation≈ ₹3,26,795 crore

   derived

   1,253.05 crore shares × ₹260.80 = ₹3,26,795 crore, about ₹3.27 lakh crore.

   Share price × outstanding shares. It measures the market value of the equity, not sales, assets or the cost of buying the whole business. A low share price does not mean a small or cheap company.

2. 2EPS · earnings per share₹16.52
3. 3Net profit and revenue₹21,018.15 cr · ₹89,913.33 cr
4. 4P/E · price to earnings15.8
5. 5P/B · price to book4.5
6. 6Dividend yield5.56%
7. 7EV · enterprise valueNot worked out

SourceGroww (ITC Q4 FY26 results: EPS, profit, revenue); Screener (book value, borrowings); NSE index file, 19 Oct 2026 (Nifty 50 and Nifty FMCG ratios). ITC's ratios and market value are derived on the 19 Oct close.

1. Pin 1, Index and benchmark: Nifty 50 · 22,888.95. An index is a number that tracks a stated basket, such as the Nifty 50. A benchmark is the yardstick you compare performance with. A sector groups similar businesses: ITC sits in the Nifty FMCG sector index. You cannot buy an index number itself; you buy a fund or contract linked to it.
2. Pin 2, Sector index: Nifty FMCG · 43,975.50. An index of one industry. Nifty FMCG groups consumer-goods companies; ITC is one of them.
3. Pin 3, ETF price vs NAV: 261.20 · NAV not shown. A fund's assets minus its liabilities, divided by its units. Teaching arithmetic: ₹1 crore of net assets across 1 lakh units gives an NAV of ₹100. An ETF's exchange price can differ from its NAV; NIFTYBEES' NAV for 19 Oct is not shown here, so compare it on the fund's own page. Fees and tracking difference also affect results.
4. Pin 4, Mutual fund, index fund and ETF: NIFTYBEES. A mutual fund pools money from many investors under a stated mandate and issues units. An index fund tries to track an index. An ETF, exchange-traded fund, has units that trade on an exchange like shares: Nippon India ETF Nifty 50 BeES (NIFTYBEES) closed at 261.20 on NSE on 19 Oct 2026. Some ETFs track an index; others are actively managed.
5. Pin 5, Spot vs derivatives segment: 260.80 cash · 261.80 futures. The cash or spot market trades the asset itself: ITC shares at 260.80. Derivatives are contracts linked to an underlying: ITC's October futures closed at 261.80 the same day. A segment is a market grouping with its own rules, such as cash and F&O. A series, a product code, a fund mandate and a strategy name each describe different things.
6. Pin 6, EQ series: ITC · EQ. India: EQ and BE are NSE series labels. EQ is the normal equity series, where ITC trades. BE is trade-to-trade: every trade must be settled by delivery, with no same-day netting. Check the current series and rules before placing an order.
7. Pin 7, Large cap: ≈ ₹3.27 lakh crore. Large, mid and small cap are size labels, and their definitions vary by country. India: SEBI's mutual-fund rules rank companies by full market value: 1 to 100 are large cap, 101 to 250 mid cap, 251 onwards small cap, using AMFI's list. At about ₹3.27 lakh crore, ITC is a large company by this measure (derived); check AMFI's current list for its official category. A size label is not a risk rating.

1. 1Index and benchmarkNifty 50 · 22,888.95

   real

   An index is a number that tracks a stated basket, such as the Nifty 50. A benchmark is the yardstick you compare performance with. A sector groups similar businesses: ITC sits in the Nifty FMCG sector index. You cannot buy an index number itself; you buy a fund or contract linked to it.

2. 2Sector indexNifty FMCG · 43,975.50
3. 3ETF price vs NAV261.20 · NAV not shown
4. 4Mutual fund, index fund and ETFNIFTYBEES
5. 5Spot vs derivatives segment260.80 cash · 261.80 futures
6. 6EQ seriesITC · EQ
7. 7Large cap≈ ₹3.27 lakh crore

SourceNSE index file, full bhavcopy and F&O bhavcopy, 19 Oct 2026. Changes are shown where NSE's file gives the previous close; ITC's −1.02% is derived. NIFTYBEES' NAV is not shown.

Per sharePer lot

ITC · options · expiry 27 OctClose · 19 Oct 2026Real data

Underlying1

260.80

Oct futures2

261.80

Futures OI

18,55,51,350

Lot3

1,725

Expiry4

27 Oct 2026

CallsPuts

OIVolumeLTP5StrikeLTPVolumeOI

1,87,05,90064,4523.45260.001.70—80,12,625

Underlying 260.80 sits here · 260 Call in the money by 0.80 derived7

——0.50270.00———

Laid out like NSE's option chain: calls left, puts right, strikes rising down the middle, in-the-money cells shaded. Volume is in contracts. A dash means we have not verified that figure. Premiums are rupees per share.

1Underlying

ITC · ₹260.80real

A derivative is a contract whose value depends on something else, the underlying: a share, an index, a commodity or a rate. For ITC's futures and options the underlying is the ITC share, which closed at 260.80 on 19 Oct. Holding a derivative is not the same as owning the underlying.

1. Pin 1, Underlying: ITC · ₹260.80. A derivative is a contract whose value depends on something else, the underlying: a share, an index, a commodity or a rate. For ITC's futures and options the underlying is the ITC share, which closed at 260.80 on 19 Oct. Holding a derivative is not the same as owning the underlying.
2. Pin 2, Futures and options: Oct futures ₹261.80. A future is a contract with obligations on both sides at a set price, expiry and settlement. ITC's October future closed at 261.80 and its November future at 263.10 on 19 Oct. An option gives its buyer a right, while the writer takes the matching obligation if it is exercised. Cash-settled and physically settled contracts work differently.
3. Pin 3, Lot size: 1,725 shares. One lot of the 260 Call: 3.45 × 1,725 = ₹5,951.25 (derived).
4. Pin 4, Expiry: Tue 27 Oct 2026. Expiry is when the contract ends: 27 Oct 2026 for ITC's October contracts. Exercise is using an option's right. Assignment is when a writer must meet that obligation. Check the style, settlement, deadlines and current exchange specifications.
5. Pin 5, Call, put, strike and premium: 260 CE 3.45 · 260 PE 1.70. A call gives the right linked to buying the underlying at the strike; a put, the right linked to selling it. The strike is the agreed price. The premium is the option's own price. On 19 Oct, ITC's 260 Call (CE) closed at a premium of 3.45 and the 260 Put (PE) at 1.70, while the share was at 260.80.
6. Pin 6, Volume vs open interest: 4,452 contracts · OI 1,87,05,900. Volume counts contracts traded in a period. Open interest, OI, counts contracts still open, each once, not once for the buyer and again for the seller. On 19 Oct, ITC's 260 Call traded 4,452 contracts and had OI of 1,87,05,900 shares, which is 10,844 lots (derived). The October future had OI of 18,55,51,350 shares. A new buyer and a new writer opening a contract raise OI; passing an existing side to someone else does not.
7. Pin 7, Moneyness: In the money by 0.80. ITC at 260.80 is above the 260 strike, so the 260 Call is in the money by 0.80; the other 2.65 of its premium is time value (derived).

1. 1UnderlyingITC · ₹260.80

   real

   A derivative is a contract whose value depends on something else, the underlying: a share, an index, a commodity or a rate. For ITC's futures and options the underlying is the ITC share, which closed at 260.80 on 19 Oct. Holding a derivative is not the same as owning the underlying.

2. 2Futures and optionsOct futures ₹261.80
3. 3Lot size1,725 shares
4. 4ExpiryTue 27 Oct 2026
5. 5Call, put, strike and premium260 CE 3.45 · 260 PE 1.70
6. 6Volume vs open interest4,452 contracts · OI 1,87,05,900
7. 7MoneynessIn the money by 0.80

SourceNSE F&O bhavcopy, 19 Oct 2026 (premiums, open interest, volume, lot, October futures). Per-lot figures, moneyness and time value are derived. The 270 Put is not shown because we have not verified it.

Buy 10 ITC · ₹260.80 · trade value ₹2,608 derived8Real calendar · illustrative trade

Mon 19 OctT · trade date1Tue 20 OctNSE holiday · DussehraWed 21 OctT+1 · settledIndia2

MoneyHDFC Bank accountSahi collects ₹2,608Contract note5No settlementNSE Clearingpay-in3Charges teaching assumption7

SharesTrade done; no shares yetNo settlementNSE Clearingpay-out410 ITC in demat · if a seller fails: auction6

1. Mon 19 OctT · trade date1

   MoneyHDFC Bank accountSahi collects ₹2,608Contract note5

   SharesTrade done; no shares yet

2. Tue 20 OctNSE holiday · Dussehra

   MoneyNo settlement

   SharesNo settlement

3. Wed 21 OctT+1 · settledIndia2

   MoneyNSE Clearing pay-in3Charges teaching assumption7

   SharesNSE Clearing pay-out410 ITC in demat · seller fails: auction6

Later: capital gains and AIS9

1Trade date · T

Mon 19 Oct 2026real

Mr. Chartist buys 10 ITC at ₹260.80.

The trade date, T, is when the order fills. Settlement is when the shares and money actually change hands. India: normal cash-share settlement is T+1, the next settlement working day, not simply the next calendar day. A trade on Mon 19 Oct 2026 settled on Wed 21 Oct because 20 Oct was a holiday. Optional T+0 for eligible shares, and other exceptions, have their own rules.

1. Pin 1, Trade date · T: Mon 19 Oct 2026. Mr. Chartist buys 10 ITC at ₹260.80.
2. Pin 2, T+1: Wed 21 Oct 2026. One settlement working day after the trade. Tue 20 Oct was an NSE holiday (Dussehra), so T+1 fell on Wednesday (derived from NSE Clearing's rules).
3. Pin 3, Pay-in, pay-out and clearing: NSE Clearing. Pay-in is handing over the shares or money you owe; pay-out is receiving what you are owed. A clearing corporation works out and guarantees these obligations: for NSE trades that is NSE Clearing. Brokers can collect money or shares early, before final settlement.
4. Pin 4, Depository, DP and demat: CDSL / NSDL. A depository keeps the electronic record of who owns which securities; India has CDSL and NSDL. A DP, depository participant, gives you access to it. Your demat account holds the shares; your trading account places the orders. A funds ledger tracks money in the account and what you owe.
5. Pin 5, Contract note: within 24 hours. Per NSE's investor page.
6. Pin 6, Short delivery and auction. Short delivery is when a seller does not deliver the shares owed. India: NSE Clearing runs an auction to buy replacement shares; if that fails, the trade is closed out in cash under its rules. Outcomes, charges and timing depend on the share and the rules.
7. Pin 7, Charges: ₹20 assumed. Brokerage is the broker's fee. Exchange charges pay the marketplace. DP charges pay for some depository services. Statutory levies are set by law; in India they include STT, stamp duty, GST and SEBI turnover fees. Rates and rules change, so no rate is assumed here.
8. Pin 8, Trade value: ₹2,608. Trade value is price × quantity: 10 ITC shares × ₹260.80 = ₹2,608 (derived; quantity is an illustration). With an assumed ₹20 of extra charges, the cash out is ₹2,628. Trade value is not total cost, net profit or cash you can withdraw. If the spread and slippage are already in the fill price, do not count them twice.
9. Pin 9, Capital gains and AIS. A capital gain is a profit on selling a capital asset under tax law; STCG and LTCG are short- and long-term capital gains. Trading income may be taxed differently. Your country, residence, the instrument and the facts decide, not a label you choose. India: AIS, the Annual Information Statement, lists tax information reported about you; check it rather than treating every line as taxable profit.

1. 1Trade date · TMon 19 Oct 2026

   real

   Mr. Chartist buys 10 ITC at ₹260.80.

   The trade date, T, is when the order fills. Settlement is when the shares and money actually change hands. India: normal cash-share settlement is T+1, the next settlement working day, not simply the next calendar day. A trade on Mon 19 Oct 2026 settled on Wed 21 Oct because 20 Oct was a holiday. Optional T+0 for eligible shares, and other exceptions, have their own rules.

2. 2T+1Wed 21 Oct 2026
3. 3Pay-in, pay-out and clearingNSE Clearing
4. 4Depository, DP and dematCDSL / NSDL
5. 5Contract notewithin 24 hours
6. 6Short delivery and auction
7. 7Charges₹20 assumed
8. 8Trade value₹2,608
9. 9Capital gains and AIS

SourceNSE Clearing (settlement cycle); NSE holiday list (20 Oct 2026, Dussehra); NSE investor page (contract notes). Trade value is derived; the 10-share quantity and the ₹20 of charges are illustrations.