Hold ITC, stock looks cheap: Mehraboon Irani

Mehraboon Irani, Principal and Head of Nirmal Bang Securities told CNBC-TV18, "Post this Goods and Services Tax (GST) thing, suddenly it dawned on quite a few people including me that ITC relatively is cheaper in terms of valuations as compared to other fast-moving consumer goods (FMCG) stocks. The suspense over how much duties will go on being hiked as far as products with the company mix, that has possibly made market men heave a sigh of relief especially people who have liked this stock and the stock has just nothing over the last couple of years.""So, at this present level, if somebody was owning ITC it would be best to hold on to it and not be in a hurry to book profit just because it has gone up by four percent. Because I personally feel at this level this stock relatively looks very cheap as compared to other FMCG companies," he said.