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Jul 12, 2012, 08.23 AM IST
Jagannadham Thunuguntla, Strategist & Head of Research, SMC Global Securities Limited is of the view that one can stay invested in ITC with long term perspective.
Jagannadham Thunuguntla, Strategist & Head of Research, SMC Global Securities Limited is of the view that one can stay invested in ITC with long term perspective.
Thunuguntla told CNBC-TV18, “ITC an excellent company. So in this kind of slowdown time, it is arguably one of the best return giver stocks.Having said that, considering that if the momentum comes back into the market maybe let us say the European crisis slightly cooling off and some interest rate cuts cycle is starting from RBI, maybe the FMCG stocks may take a backseat but having said that considering that if one is a five year investor I think one can easily stay invested. He further added, “If it is five years, I think it will not be surprising - probably even we see maybe Rs 500-600 levels, maybe one will be getting it three timer EBTDA - ITC is easily frontline company and on top of that healthy weightage. If the Nifty has to perform then ITC also has to perform meaning thereby all the Nifty gains will get rubbed off onto the ITC with this Nifty management itself.”
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