Prakash Diwan of prakashdiwan.in told CNBC-TV18, "I do not think there is any negativity with the numbers in ITC. In fact, there is a relief of sorts that the bottomline is clocked. Of course, that could have been contributed from hospitality which nobody was expecting, but look at the cigarette volume degrowth, just about a percentage of sorts. It is not really that demonetisation has taken away this entire trade into a different negative zone.""Going forward, if the recent price hike, only some of the very low price point products that they have announced can be extended and they will probably do it after the Budget naturally. It could be just a matter of saying the event is over, the results are out, let me take some money off because from Rs 225 onwards, it has had a secular run," he said."The other contribution from the businesses that ITC is focusing on, my belief is will help re-rate the stock beyond just the core tobacco business and that means there is more upside. So, it is a buy on dips. Ideal stage to get in would be that Rs 245-250 zone and wait for that Rs 300 plus move for the next 12 months."
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