Stay put in Delta Corp, ITC: Sharmila Joshi

Sharmila Joshi of sharmilajoshi.com told CNBC-TV18, "In Delta Corp, we hear a lot of conflicting news items on the way ahead for the business that the company is in. However, that said, these are matters that will get sorted along the way and their Daman hotel and casino and their other businesses in Goa, and the rules and regulations that are surrounded, hopefully things will fall in place over the next four to five years."

"I think once they do that, then I think you will really capture the true growth of a business like that. I still think that the long-term story is to play out in this stock. So, from that perspective, I think stay put. However, as I said, you need to keep an eye open for the changing regulations on this one," she added.

"For long-term investor, it makes sense and first of all ITC started rallying when it got sort of cheered by the fact that GST may not be as big a punishment as the tobacco industry was expecting and things may sort of be slightly better for them. In fact, let us not forget that ITC is a company that is also adding to their other businesses. I think the recent news has been that they are getting into frozen foods."

"Of course I think the other businesses don’t contribute significantly to the bottomline, but I think the strategy is very clear, the company is trying to broad base itself and make a shift to businesses other than tobacco which is good news. So, if you are a long-term investor hopefully that positive will play out for you because as of now, as I said, the contribution is not much."

"So, from all perspectives, given the fact that it is a leading tobacco player and its foray into food and frozen food etc. I think it makes sense to continue holding ITC. I think closer to Rs 410-415 would be a good target if you are giving it about 12-18 months," she said.