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Last Updated : Jul 06, 2020 03:37 PM IST | Source: Moneycontrol.com

Buy ITC; target of Rs 285: Anand Rathi

Anand Rathi is bullish on ITC has recommended buy rating on the stock with a target price of Rs 285 in its research report dated July 03, 2020.

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Anand Rathi 's research report on ITC


ITC Limited (ITC) has reported a decline of 7.9% in its consolidated revenue at ₹1,17,822 million in Q4-FY20 as against ₹1,27,892 million in Q4-FY19. Revenue decline was mainly due to loss of sales in last 10 days of march which affected all the segments with Cigarettes, FMCG, Hotel, Agri and Paper businesses registering a decline of 4.9%, 2.8%, 6.7%, 10.0% and 5.1% respectively. Cigarettes business registered a volume decline of ~12% after factoring in the price hike taken in this segment.



Outlook


The Company remains the clear leader in the FMCG industry in terms of annual Free Cash Flow generation., we continue to remain positive on the company over medium to longer term perspective and maintain our BUY rating on the stock with a revised target price of Rs.285 per share.




For all recommendations report, click here


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First Published on Jul 6, 2020 03:37 pm
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