{"id":7139,"date":"2015-03-28T11:48:15","date_gmt":"2015-03-28T06:18:15","guid":{"rendered":"https:\/\/blog.fundsindia.com\/blog\/?p=7139"},"modified":"2015-04-07T11:18:51","modified_gmt":"2015-04-07T05:48:51","slug":"itc-ltd","status":"publish","type":"post","link":"https:\/\/www.fundsindia.com\/blog\/equities\/itc-ltd\/7139","title":{"rendered":"ITC LTD."},"content":{"rendered":"<p style=\"text-align: justify;\">ITC Ltd is one of the leading conglomerates with business interests in\u00a0cigarettes &amp; tobacco, packaging, agri-business, food, hotels, lifestyle retailing,\u00a0personal care, paper &amp; stationery and branded apparels. In the cigarette\u00a0segment, the company enjoys more than ~80% market share by value in India.\u00a0Despite the presence across various business segments, cigarette still draws a\u00a0major part of profitability as ITC operates with over 2 mn retailers across India\u00a0managing one of the largest distribution networks in the country.<\/p>\n<div class=\"blog-highlight\" style=\"clear: both; background: #2baae2; border: none; width: 60%; text-align: center; box-shadow: 0 5px 5px rgba(0, 0, 0, 0.5);\"><a style=\"text-decoration: none;\" href=\"http:\/\/www.fundsindia.com\/content\/jsp\/registration\/login.jsp?ref=blog-button\" target=\"_blank\"> <span style=\"color: #fff; font-weight: bold;\">Open<\/span> <span style=\"color: #fff; font-weight: bold; text-decoration: none;\"> a FREE Account Now! <\/span><\/a><\/div>\n<p style=\"text-align: justify;\"><span style=\"text-decoration: underline;\"><strong>Valuation and view<\/strong><\/span><\/p>\n<p style=\"text-align: justify;\">Aggressive pricing, strong balance sheet, investments across\u00a0segments and new businesses, may help ITC to gain further\u00a0market share in the Indian FMCG business pie. Moreover,\u00a0above average industry growth in the non-cigarette FMCG\u00a0business is also likely to power the company\u2019s growth, going\u00a0forward. A rising market share in the packaged food business\u00a0and strong growth in the personal care segment, may help\u00a0propel ITC to the top of the pie in the FMCG industry over the\u00a0coming years. We remain bullish on ITC on higher earnings\u00a0visibility and improving profitability in the non-cigarette FMCG\u00a0business that could lead to higher cash flows and payout\u00a0ratios.<\/p>\n<p>At a current market price (CMP) of \u00a0Rs317, the stock trades at\u00a021.8x FY16E and 18.5x FY17E, earnings. We recommend \u2018BUY\u2019\u00a0with a target price of \u00a0Rs386.2, which implies potential upside of\u00a021.8% to the CMP from 1 year perspective.<\/p>\n<p><a href=\"https:\/\/www.fundsindia.com\/blog\/wp-content\/uploads\/2015\/03\/Research-Report-ITC-Ltd.pdf\">Research Report ITC Ltd<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>ITC Ltd is one of the leading conglomerates with business interests in\u00a0cigarettes &amp; tobacco, packaging, agri-business, food, hotels, lifestyle retailing,\u00a0personal care, paper &amp; stationery and branded apparels. In the cigarette\u00a0segment, the company enjoys more than ~80% market share by value in India.\u00a0Despite the presence across various business segments, cigarette still draws a\u00a0major part of profitability [&hellip;]<\/p>\n","protected":false},"author":14,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[59],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v17.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>ITC LTD.<\/title>\n<meta name=\"description\" content=\"Find the latest research report on ITC LTD. on FundsIndia Marketplace.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fundsindia.com\/blog\/equities\/itc-ltd\/7139\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" 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