September 24, 2018 . Equities Desk

ITC is a diversified conglomerate, present across categories– Cigarettes, Other FMCG, Hotels, Paper & Agri-business. ITC is a market leader in the cigarettes category with volume market share of ~75%.

Valuation: Given ITC’s leadership position in cigarette category, continued investment in FMCG business and favourable risk reward, we recommend ‘BUY’ rating on the stock with a target price of Rs. 336 based on 30.5x FY20E EPS.

Research-Report – ITC Ltd

Investments in equity shares, debentures, etc., are not obligations of, or guaranteed by Wealth India Financial Services Pvt. Ltd., and are subject to investment risks. Click here to read our full disclaimer.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.