Amit Dalal, Amit Nalin Securities is of the view that one can buy ITC on every huge fall in the market.
Dalal told CNBC-TV18, "ITC is expensive now, no doubt about it but so are the three spaces, which were never expensive before, engineering technology and FMCG. FMCG was never valued the way it is right now. But given the fact that we have GDP growth, we have higher and higher penetration in the rural economy, we have larger 18-24 or 18-35 population coming up. If one takes a medium term trend on this company, it is bound to benefit. It has perhaps less risk on competition and pricing from competition than perhaps another type of FMCG company. I would be a little cautious on investing right now, maybe a trading call and you would get Rs 20 out of it but on every huge fall in the market, I remain a fan of ITC as a purchaser."
