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Buy ITC; target of Rs 335: Motilal Oswal

Motilal Oswal is bullish on ITC recommended buy rating on the stock with a target price of Rs 335 in its research report dated June 29, 2022.

June 30, 2022 / 02:57 PM IST
 
 
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Motilal Oswal's research report on ITC


Refreshed post-pandemic strategy: ITC’s refreshed strategy across business divisions places digital prowess and sustainability at its center, as it focuses on remaining nimble to address the fast-evolving trends and consumer preferences. Management will also explore growth opportunities through the M&A route and will undertake higher investments to drive exports. Infrastructure and ICMLs: ITC has 10 operational integrated consumer goods manufacturing and logistical (ICML) facilities located close to high demand centers. These facilities have resulted in shorter distance to market, reduced emissions, improved quality and hygiene, as well as an improved supply chain.


Outlook


We maintain our BUY rating on the stock with a TP of INR335.


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At 11:48 hrs ITC was quoting at Rs 273.85, down Rs 0.15, or 0.05 percent.


It has touched an intraday high of Rs 274.70 and an intraday low of Rs 272.70.


It was trading with volumes of 109,227 shares, compared to its thirty day average of 655,719 shares, a decrease of -83.34 percent.


In the previous trading session, the share closed up 0.81 percent or Rs 2.20 at Rs 274.00.


The share touched its 52-week high Rs 282.30 and 52-week low Rs 200.85 on 20 May, 2022 and 09 July, 2021, respectively.


Currently, it is trading 2.99 percent below its 52-week high and 36.35 percent above its 52-week low.


Market capitalisation stands at Rs 337,472.36 crore.


For all recommendations report, click here


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first published: Jun 30, 2022 11:53 am
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