172@29@17@248!~!172@29@0@53!~!|news|business|stocks|buy-itc-target-of-rs-297-sharekhan-4590181.html!~!news|moneycontrol|com!~!|controller|infinite_scroll_article.php!~!is_mobile=false
Moneycontrol
Watch experts decode 'The rise of ESG investing' on October 29 at 4pm. Register Now!
Last Updated : Oct 31, 2019 04:21 PM IST | Source: Moneycontrol.com

Buy ITC; target of Rs 297: Sharekhan

Sharekhan is bullish on ITC has recommended buy rating on the stock with a target price of Rs 297 in its research report dated October 24, 2019.

Broker Research
 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

Sharekhan's research report on ITC


Cigarette sales volumes grew by 3%; largely in line with Q1. OPM expanded 112 bps to 38.4%, driven by 96 bps rise in cigarette business EBIT margins and a 55% growth in non-cigarette FMCG business EBIDTA. Overall, Q2 was steady, with revenues growing by 5.3% and operating profit rising by 8.5% amid muted demand.


Outlook


The stock trades at a discounted valuation of 18.1x and we maintain our Buy rating with an unchanged PT of Rs. 297.


For all recommendations report, click here


Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

First Published on Oct 31, 2019 04:21 pm
Sections