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Buy ITC; target of Rs 360: ICICI Direct

ICICI Direct is bullish on ITC has recommended buy rating on the stock with a target price of Rs 360 in its research report dated August 02, 2022.

August 04, 2022 / 05:14 PM IST
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ICICI Direct's research report on ITC

ITC is the biggest cigarettes & second largest FMCG company in India with ~78% of market share in cigarettes & presence in staples, biscuits, noodles, snacks, chocolate, dairy products & personal care products. It is also present in paperboard, printing & packaging business, agri & hotels businesses. The company has more than 200 manufacturing facilities in India. It has a distribution reach of over 6 million retail outlets across various trade channels and strong 25 brands across various categories.


We maintain our BUY recommendation. We value the stock at Rs 360 on SOTP basis valuing cigarettes business at 16x FY24 earnings & FMCG business at 6x FY24 sales.


For all recommendations report, click here

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ITC - 020822 - ic

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first published: Aug 4, 2022 05:14 pm
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