Remain invested in ITC: Rajesh Agarwal

Rajesh Agarwal, Head of Research at Eastern Financiers Limited told CNBC-TV18, "In the next six months from the current market price ITC can appreciate by another 10-15 percent. I would advice to stay put. One should take much longer view on ITC because with the kind of product portfolio this company has from FMCG, to cigarettes to hotels, paper everything is doing well.”

"There are some concerns on the volume side on cigarette business but that is being taken care by the growth in FMCG business. Even in the paper side with the kind of price hikes that we have recently seen, the division is going to report good numbers, new launches in FMCG has been taken well. Not to forget the strong balance sheet that this company has."
"ITC is a long term hold with price target of Rs 400 plus in the next one year. Maybe in the short term there might be some amount of profit booking but still in the next 6 months I see the price going to around Rs 360 levels. So one should continue holding to the stock."