Sonam Udasi bullish on ITC

Excerpts from Closing Bell on CNBC-TV18 Watch the full show » RELATED NEWS Prefer Dabur, ITC to HUL, says Dhawan More downside in HUL: Sukhani ALSO READ See previous views by Sonam Udasi See what other Experts & Brokerages are saying about ITC See messages about ITC ITC BSE | NSE 17/02/12 Are Mutual Funds betting on ITC?

Sonam Udasi , Brics Securities is bullish on ITC .

Udasi told CNBC-TV18, "We are more bullish on ITC than HUL at this juncture because the Budget blues are already in the price. They have already taken price hikes across the board. Even if the volumes growth is about 4-5% over the next 2-3 years, their profitability growth will be about 17% over the next two years. So to that extent we are more bullish on ITC."

The share closed at Rs 260.45, down Rs 0.05, or 0.02%. Yesterday the share closed down 0.89% or Rs 2.35 at Rs 260.50. Market capitalisation stands at Rs 99,204.07 crore.

The company touched its 52 week high Rs 271.30 and 52 week low Rs 172.35 on 24 Nov, 2009 and 19 Mar, 2009, respectively. Currently, it is trading -4% below its 52-week high and 51.12% above its 52-week low.

The company's trailing 12-month (TTM) EPS was at Rs 10.09 per share. The stock's price-to-earnings (P/E) ratio was 25.81. The latest book value of the company is Rs 35.92 per share. At current value, the price-to-book value of the company was 7.25. The dividend yield of the company was 1.42%.